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user-inactivated  ·  2308 days ago  ·  link  ·    ·  parent  ·  post: $15/hr at Amazon

https://apnews.com/35f90ab8cb504922984a09aebae50ec2

    Amazon made a big splash this week with its $15 an hour minimum wage announcement, but lost in the fine print: Existing warehouse workers will no longer receive stock in the company or collect bonuses.

    The online giant says next month it will end bonuses, which paid workers extra based on their attendance and warehouse productivity, as it boosts its minimum wage.

    Amazon will also phase out its restricted stock unit program, which gave shares to workers if they stayed with Amazon for a certain amount of years. Amazon says it will replace it with a program next year that will allow workers to buy stock, but didn’t provide details.

    Amazon.com Inc. says “compensation will be more immediate and predictable” with the changes.

    The company said its other benefits, such as 401(k) retirement accounts and health insurance, were not changed.

Higher hourly is probably more beneficial but it is worth noting the trade off companies choose to make when pressured into higher wages.