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Blowback at Amazon - after announcing a new $15 minimum wage, it turns out some employees might be getting a paycut because of stock awards going away and smaller bonuses. While these workers' hourly rates will rise modestly, they said they could lose thousands of dollars that they would have collected from the stock and monthly-bonus programs. Amazon said those who are already making $15 an hour will see an increase in pay but did not specify how much. Not everyone at Amazon is happy about the wage increase. (photo credit/Time) Not everyone at Amazon is happy about the wage increase. (photo credit/Time) Amazon said its decision to eliminate the financial incentive program was based on employees' feedback. "We've heard from our hourly fulfillment and customer service employees that they prefer the predictability and immediacy of cash to RSUs," the company wrote in a blog post. "The net effect of this change and the new higher cash compensation is significantly more total compensation for employees, without any vesting requirements, and with more predictability." The decision was widely cheered by new employees who will immediately see a significant increase in their paycheck. Amazon posted a video on the company's YouTube page featuring employees' excitement and appreciation. While the minimum wage increase will also apply to Whole Foods Market workers, it's unclear how the change will impact its stock option plan, which the company recently announced in response to some employees calling for unionization. Last month, in a letter to employees, CEO John Mackey said Whole Foods will create an Amazon equity program for all employees with at least 6,000 service hours. Almost half of Amazon Prime members we surveyed say they'll drop the service, but the company will be fine designer bags cyber mondaychanel flap bag caviar
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