© Reuters. FILE PHOTO: The brand of Amazon is seen on the firm logistics heart in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol
(Reuters) -Amazon.com Inc stated it could cut back worker inventory awards, part of its compensation plan, because the e-commerce large navigates an unsure financial system.
“We made the choice to scale back RSU (restricted inventory models) awards within the ultimate outlook 12 months by a small quantity (different years aren’t impacted),” an Amazon (NASDAQ:) spokesperson stated in an emailed assertion, with out specifying the interval of the ultimate outlook 12 months.
The information comes weeks after Amazon introduced a second spherical of mass layoffs, piling on to a wave of job cuts that has swept the expertise sector as a tough financial system forces firms to get leaner.
Enterprise Insider had first reported the deliberate change within the firm’s pay construction and stated Amazon would reevaluate 2025 compensation within the first quarter of subsequent 12 months to “plan for inventory variation”.
The corporate was weighing the potential of adjusting its compensation mannequin sooner or later to be extra balanced between base money compensation and fairness, after wanting on the mixture of an unsure financial system and its compensation finances, the spokesperson stated.
Amazon’s shares have gained greater than 20% this 12 months, following a close to 50% tumble in 2022.
