Oops, Amazon emails staff with news it miscalculated their compensation – Fortune - eComEmpireStore + Brought to You By: Robert Villapane Ramos


Official Registration for Nexus Rewards! Join Now...
Your Information Is 100% Safe! Continue Now...







​​
​​

Oops, Amazon emails staff with news it miscalculated their compensation – Fortune

Corporate employees at Amazon got emails about promotions and raises. Then they got emails saying the raises weren’t quite what they thought. A one-time bonus that was part of their compensation package had been miscalculated due to a software error and would be lower than what they had been told, according to an email sent on […]



Corporate employees at Amazon got emails about promotions and raises. Then they got emails saying the raises weren’t quite what they thought. 
A one-time bonus that was part of their compensation package had been miscalculated due to a software error and would be lower than what they had been told, according to an email sent on Thursday and viewed by Insider.
The bonuses had initially been calculated using older, higher stock prices, according to Insider, and about 40% of promoted employees this quarter were affected by the error.
“We identified and immediately corrected an issue with some newly promoted employees’ compensation communications,” an Amazon spokesperson told Fortune.We are working with employees to ensure they understand their updated compensation.”
Compensation has been a major issue across the tech sector this year as a strong labor market heats up competition for workers.
Earlier this year, Amazon announced its plan to double its maximum base salary to $350,000 to attract talent, something that workers at Google cited after the company’s annual internal survey revealed their dissatisfaction with pay
This year’s ‘Googlegeist’ survey, conducted in January,  found that just 53% of Google employees considered their pay competitive, down 5% from the year before, and 56% found their compensation ‘fair and equitable,’ down 8%. 
Though corporate employees are continuing to make big jumps in compensation, the same can’t be said for the company’s thousands of hourly workers. Earlier this month, CEO Andy Jassy said that a $25 minimum wage is unlikely
“There is a limit to the economics you can pay and have a business that can be profitable,” he said at Vox Media’s 2022 Code Conference in Beverly Hills. During the pandemic, the company increased its average hourly wage to $18/hour.
Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
© 2022 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices 
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions.

source

storefronts0f-20
US