Amazon.com Inc said it would reduce employee stock awards, a part of its compensation plan, as the e-commerce giant navigates an uncertain economy.
“We made the decision to reduce RSU (restricted stock units) awards in the final outlook year by a small amount (other years are not impacted),” an Amazon spokesperson said in an emailed statement, without specifying the period of the final outlook year.
The news comes weeks after Amazon announced a second round of mass layoffs, piling on to a wave of job cuts that has swept the technology sector as a rough economy forces companies to get leaner.
Business Insider had first reported the planned change in the company’s pay structure and said Amazon would reevaluate 2025 compensation in the first quarter of next year to “plan for stock variation”.
The company was weighing the possibility of adjusting its compensation model in the future to be more balanced between base cash compensation and equity, after looking at the combination of an uncertain economy and its compensation budget, the spokesperson said.
Amazon’s shares have gained more than 20% this year, following a near 50% tumble in 2022.
Source : Reuters
US President Donald Trump welcomes Chinese President Xi Jinping to the White House on Thursday…
- Australia said on Thursday an OpenAI agent breached a government health data portal in…
Increases in US electricity prices since 2020 have coincided with a sharp rise in demand…
Europe's investment debate tends to ask how much capital can be mobilised and how quickly.…
Most of what we hear about artificial intelligence comes through the lens of advanced economies:…
It has long been argued that even relatively small increases in global migration could result…