1%-4% raises and no stock adjustments == massive pay cuts. Source: https://www.wsj.com/articles/amazon-corporate-workers-face-pay-reduction-after-shares-slip-f896e314
Jizz Bezos 💦👊👊
He's jizzing alright
We can now say that people are willing to take paycuts if it results in fewer layoffs.
Jokes on you, they’ll lay off again.
Highly likely that they will if the current layoffs don’t meet cost expectations by the end of Q1. My manager keeps saying we have to deliver and prove our worth and keeps getting paranoid whenever one of our deadlines slip.
No paywall link
How do you get the non paywall version
I’m on the same boat as everyone. Initially it didn’t sound fair to me, but then I thought about the scenario if stocks go up by 50% (vs 15% projected). I don’t think Amazon would then take some our in-year stocks away. But I understand I’m frustrated as well
Lol, when stock goes above planned, Amazon counts it as forward payment. Because of that many experienced a salary cliff before the pandemic when stock was flying year over year.
Damn amazon really got in your head. Bananas take 🍌
I thought Amazon was one of the few companies that awarded you extra RSUs to compensate for your pre-existing RSU awards falling below grant price. Was I wrong? Because this is a shocking 180 if that's how it used to be.
AFAIK, it was never an issue because of how rapidly their share price increased.
Wow, that's fucked up.
You are not wrong. When stocks went up, they didn’t grant more stock. Even if you were promoted you only got a few thousand more. They promised for years, they would keep people at their compensation targets if stock went down. Now it turns out that they take the upside, and you eat the downside. This is the World’s Shittiest Company.
100% agree.
But you get free bananas
When I was at Amazon, they always mentioned how they would re-up your grant to ensure you met your “TCT”. Is that not the case anymore? Can someone from Amazon confirm? Is this applying to everyone or only low performers? Pretty egregious if no stock bump for everyone
No in-year stock for anyone and all base pay raises I’ve seen have been <3.5%. Lowest sitting at just over the 1% mark, and this was not an LE rating.
You’re not patched up, no. It just affects future grants depending on your comp target and performance.
I bet this is another forced attrition play, along with rto. They know it’s shitty and that under normal circumstances this would never fly, but they hold all the cards now and they know it.
Why not? Says Beth.
Exactly! Reducing costs and getting people to quit without severance, double win
amazon is a shit company
World's best employer
Gaslighting
At least they don't have to work from home anymore. These lucky people will have the honor of paying for their commutes with a diminished salary