ML-Implode News - Amazon hourly workers lose monthly bonuses, stock awards, for min. wage increase

The confirmation follows multiple reports on Wednesday that some of Amazon's warehouse employees say they will make less as a result of this change. The Guardian said warehouse workers currently receive one Amazon share (worth $1,959) at the end of every year, on top of another single share reward every five years. Yahoo News noted that warehouse workers can earn up to 8 percent of their monthly income every month, which could be as much as $3,000 a year for some workers. Workers were notified of the change on Wednesday, according to Bloomberg.
Amazon disclosed in its announcement on Tuesday that it is replacing the stock awards program with the minimum-wage increase because employees prefer the "predictability and immediacy of cash" compared with stock awards. The company also noted that it was "phasing out the incentive pay component," in an answer to a question phrased as "Is it required to hit any incentive targets in order to get the $15 minimum wage?

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Amazon hourly workers lose monthly bonuses, stock awards, for min. wage increase