Amazon Corporate Workers Face Pay Reduction After Shares Slip

The steep decline in Amazon's stock over the past year is roiling the technology company's stock-heavy compensation plan, resulting in employee pay coming in significantly lower than target compensation, WSJ reported, citing people familiar with the matter. From the report: Amazon pays its corporate employees a large chunk of their annual salaries in restricted stock units, and a prolonged slump in the company's shares is causing pay for 2023 to be between 15% and 50% lower than the projected targets Amazon gave to employees, some of the people said. Amazon has historically given less base-pay compensation to employees than its big-tech peers but made up the difference with stock awards that vest over several years. Employees say the longer an Amazon employee stays with the company, the more their compensation can depend on stock awards, with stocks making up 50% or more of total income for some.Read more of this story at Slashdot.
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