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.
It?s not like I run a store or an office of any kind, I?m more like a farmer, and this year there was a huge increase in demand. I have a handful of people who work for me in various capacities. They went from making 18 to making 22 dollars an hour and hopefully after this month I can pay 25. Why is that so hard to believe?