Amazon to Slash Employee Stock Awards Amidst Cost-Cutting Measures

Image Source :- Google images

Amazon is planning to reduce stock awards for its employees, following a round of layoffs last year.

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The tech giant had previously announced in October 2020 that it was cutting 1,000 jobs in its consumer business in the US.

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Now, according to sources familiar with the matter, Amazon is planning to reduce stock awards for remaining employees by 10% to 20% in order to save costs.

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Stock awards are a significant part of Amazon’s compensation package for employees, and are seen as a way to retain talent and incentivize high performance.

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However, the reductions in awards are not expected to impact all employees equally.

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Higher-level employees and executives are likely to see smaller reductions, while those in lower-level positions could see reductions of up to 20%.

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The move to reduce stock awards comes as Amazon faces increased scrutiny over its treatment of workers.

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In recent years, the company has been criticized for working conditions in its warehouses and for its treatment of delivery drivers.

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Last year, the company faced a high-profile unionization effort at one of its warehouses in Alabama, which ultimately failed.

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Amazon’s cost-cutting measures have also affected other areas of the company.

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In addition to the layoffs in its consumer business, the company also announced in December 2020 that it was closing its Prime Pantry service,

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which allowed customers to buy household essentials in bulk. The closure was part of a broader effort by the company to streamline its operations and cut costs.

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[{"selector":"#anim-8bb70c72-9155-4c86-8f71-ef1b7ea450d6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-83912a29-044c-4cc4-b2b7-580b69596864","keyframes":{"transform":["translate3d(0px, 59.28633%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-670fec1f-1cd7-4734-a242-0587b2330716","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ae400af-1b58-4915-ba7b-416ec5531009","keyframes":{"transform":["translate3d(0px, 386.32461%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd1a4939-53a0-4429-b361-ce37022289a3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-9.82955474253886%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Image Source :- Google images Read More

Read Why? Walmart Sues Credit Card Partner Capital One

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