Online retail giant Amazon is cutting back on bonuses and other stock options for its warehouse workers after it raised its minimum wage for all employees to at least $15 an hour; a sharp rebuke of Sen. Bernie Sanders public crusade against one of the nation’s largest corporations.
According to Bloomberg, “Warehouse workers for the e-commerce giant in the U.S. were eligible in the past for monthly bonuses that could total hundreds of dollars per month as well as stock awards, said two people familiar with Amazon’s pay policies. The company informed those employees Wednesday that it’s eliminating both of those compensation categories to help pay for the raises.”
The revised payment scheme may actually result in “less wages” for certain workers.
“Because it’s no longer incentive-based, the compensation will be more immediate and predictable,” Amazon said.
The announcement comes just weeks after Sen. Bernie Sanders launched his full-fledged campaign against the one of the nation’s largest companies; unveiling new legislation that would impose a stiff tax for government benefits received by full-time employees.
Read the full story at Bloomberg.