The change comes as Amazon has reportedly come under increasing fire from corporate employees for what they see as below-market pay.
Amazon is more than doubling its maximum base salary for corporate workers, according to an internal memo.Amazon cited the competitive labor market as one of the factors behind the change.is boosting its maximum base salary for corporate workers, citing the competitive labor market as one of several factors behind the change.
The company said Monday in an internal memo to employees that it will now cap base pay for all white-collar workers at $350,000, a significant jump from its previous max of $160,000. Base pay is only a portion of employees' total compensation. This figure does not include restricted stock units, which typically vest in increments over several years, as well as other cash, such as sign-on bonuses. The company's compensation has historically been weighted heavily to stock.
"This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive for attracting and retaining top talent, we decided to make meaningfully bigger increases to our compensation levels than we do in a typical year," according to the memo, which was first reported byIn addition to increasing base pay, Amazon said it's also increasing overall compensation...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon makes Samsung's Galaxy S20 FE 5G great again with huge new discountAmazon has the unlocked Samsung Galaxy S20 FE 5G on sale for $200 less than usual in one storage variant and six colors, presumably for a limited time.
Read more »
‘The Marvelous Mrs. Maisel’: Amazon Drops Official Season 4 TrailerPrime Video has released the official trailer, above, for the upcoming fourth season of The Marvelous Mrs. Maisel. It debuts Feb. 18 with two new episodes dropping every Friday for four weeks &821…
Read more »
Apple, Not Amazon, Should Buy Peloton. Here’s Why.“We would be shocked if Apple is not aggressively involved in this potential deal process,” one analyst said. Acquiring Peloton would 'catalyze the company’s aggressive health and fitness initiatives over the coming years.'
Read more »
Peloton stock surges on speculation of takeover by Amazon, Nike or AppleShares of the beleaguered fitness firm Peloton were trading up $6.79 at $31.39 shortly after the market opened on Monday morning.
Read more »
Workers at Three Amazon Warehouses Are Now Waging Unionization BattlesA success at Amazon may unleash a wave of unionization filings, just as the first successful Starbucks union did.
Read more »