The Strategist

WSJ: Amazon employees wages will lose 15 to 20 percent from expected in 2023



02/21/2023 - 08:43



Due to a steep decline in the value of the company's stock, salaries at online retailer Amazon will fall 15 to 50% short of expectations in 2023, according to sources with knowledge of the matter.



Noah Kalina
Noah Kalina
Amazon pays a sizable amount of its employees' yearly salary in restricted shares, and a sustained decrease in the value of the company's stocks will result in 2023 salaries 15 to 50% below those promised by Amazon to employees.

Amazon's stock price has decreased by roughly 50% by the end of 2022. The company’s papers increased by 23% in January 2023, but declined in February, falling by about 6%. Share price of Amazon was $97.2 as of late Friday trading, and certain employees' compensation were fixed at $170 per share.

In response to a "battle for talent" and declining stock prices, the corporation boosted the annual cash wage maximum from $160,000 to $350,000 last year. The newspaper’s sources claim that Amazon will give its employees a 1-4% raise this year and won't issue any more restricted stock to reach its wage goals.

source: wsj.com

 




More
< >

Thursday, May 16th 2024 - 03:10 HSBC starts looking for new CEO