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Amazon garnered praise for raising the minimum wage for its hourly workers to $15 yesterday, but the widely-publicized move also came at the expense of monthly bonuses and stock options. The company explained its decision to shift to a new stock purchase program in the announcement blog post yesterday, citing that hourly employees preferred the “predictability and immediacy of cash to RSUs,” or restricted stock units, but the post doesn’t mention the loss of monthly incentives, which Bloomberg reported earlier today.
Several Amazon warehouse employees have criticized the move, stating they would actually be losing thousands in incentive pay. Currently, warehouse workers get two shares of Amazon stock when they’re hired ($1,952.76 per share as of writing), and an additional stock option each year. After the changes take effect, the RSU program will be phased out for stocks that vest in 2020 and 2021, and it will be replaced with a direct stock purchase plan by the end of next year.
An Amazon warehouse worker told The Verge via email that the news was devastating to fulfillment employees, many of whom depend on their RSU and VCP (variable compensation pay, a performance-based monthly bonus program) incentives on top of their hourly wages. VCP incentives, which are dependent on good attendance and hitting productivity targets, could get Amazon workers an 8 percent monthly bonus, and a 16 percent bonus during the peak November and December seasons.
Can you please explain the terminology you used? What are the definitions of RSU and VCP?
So they left the fulfillment workers with a smaller stick and no carrot...
But but but Bezos cooks his own breakfast and reads to his kids.
Who cares if he fires workers for talking while working, gives some workers what amounts to a 5 minute lunch break, has a tough bathroom policy where workers go in garbage cans so as not to get pay ducked, and has plants without AC so workers have suffered heat stroke. It is better than Walmart, because....Liberalism!
There is a difference.....between the Waltons, who have spent much of their life lobbying the State and Fed. Government for tax breaks for themselves personally (they made up the whole "death tax" thing because it mostly applied to billionaires).....
Good for Amazon. This is the positive side of Single Jewish Women (SJW)......basically enlightened, but not perfect, businesses from the Left Coast...
Another interesting factoid. Bezos makes breakfast (cooks) for his family. He doesn't take his first meeting until 10am and won't take any important decisions in the late afternoon. He says the best thinking is earlier in the day....
A American business that already employs 350,000 - many at high wages (skilled)...and has a "eco-system" of authors and other sellers numbering in the 100's of thousands. See....American is already great, but we need those SJWs to ask folks to do the right thing.
BTW, an auto plant these days generally employs 800-3,000.
And ow many SUCCESSFUL business's have YOU STARTED?
If NONE, why not try it and then YOU can tell other what to do.
The left is FAMOUS for trying tell others what to do, how to do it what to say, what to NOT say, how they should act, etc, then let's look at them in the same situations.
Oh yes, Amazon is a terrible place to work, at least in the distribution centers, the 6 warehouses they have around here are always hiring, their employee turnover is crazy high, they cannot keep employees at all. Many quit their first day, walk off the job or go to lunch and never come back.
I don’t think any distribution center is going to be a pleasant place to work. There’s a large Ace distribution center not far from me and I’ve heard it’s pretty tough there as well.
All Jobs are IMPORTANT... If America could get from the grooming of what Slavery interjected into society, which denigrated certain work because it was considered as work only for slaves. Therefore, the 'insult to work" was put in place long ago... part to keep wages low, and part because of the lack of respect for the black worker.
Every Job that exist, is a Job that is needed to have the society we have.
China and other Asian nations understand this among their population, because even in fast food places its evident how proud the people are to have those jobs.
I have great respect for people in Any Job Capacity, because it is work that is needed.
We need to re-adjust as a society and get over the madness that was groomed into our social structure by the history of slavery and the conduct and mentality that spread throughout segregation.
There is no job that should be denigrated, and no person who does any job should be looked down upon.
America has lowly paid people for jobs that are indispensable in our society. the challenge the skill level of the people who do those jobs, its an insult to the same humane social society we claim we love so much for its attributes and conveniences.
Imagine going to your office and no one cleaned the trash, the floors or bathrooms... Yet, people look at Custodial and Janitorial as being less than. It is honorable work, and people should look around and be thankful for the people who do those jobs.
I have and I show respect for and unto people in every job category!!!!!!
So they left the fulfillment workers with a smaller stick and no carrot...
Demonstrates how much the left-wing nutjubs such as Sanders were lying about the compensation of Amazon employees. I hope the employees remember just who pressured Amazon to this decision. Sanders and co have a real issue with the truth.
Originally Posted by rstevens62 View Post
Oh yes, Amazon is a terrible place to work, at least in the distribution centers, the 6 warehouses they have around here are always hiring, their employee turnover is crazy high, they cannot keep employees at all. Many quit their first day, walk off the job or go to lunch and never come back.
That is far from unique to Amazon. Any number of businesses have the same issue. We have a generation that has never learned how to work for a living.
There is a difference.....between the Waltons, who have spent much of their life lobbying the State and Fed. Government for tax breaks for themselves personally (they made up the whole "death tax" thing because it mostly applied to billionaires).....
Good for Amazon. This is the positive side of Single Jewish Women (SJW)......basically enlightened, but not perfect, businesses from the Left Coast...
Another interesting factoid. Bezos makes breakfast (cooks) for his family. He doesn't take his first meeting until 10am and won't take any important decisions in the late afternoon. He says the best thinking is earlier in the day....
A American business that already employs 350,000 - many at high wages (skilled)...and has a "eco-system" of authors and other sellers numbering in the 100's of thousands. See....American is already great, but we need those SJWs to ask folks to do the right thing.
BTW, an auto plant these days generally employs 800-3,000.
This may have been mentioned already in the thread, but I didn't have time to read through it all. Yes, Amazon raised the wage. However, this was not a gift to the employees, it was an exchange. These workers may have gained in hourly wages, but they lost their eligibility for monthly bonuses and stock awards. Which means in the long run, the workers could possibly make less money than they would have had they remained eligible to receive these bonuses and stock awards. There's always a catch folks.
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