Thursday, 4 October 2018

Amazon's hourly workers lose monthly bonuses and stock awards as minimum wage increases

quote [ Amazon took away monthly bonuses and stock awards from its hourly workers, as the company announced a minimum-wage increase Tuesday. ]

TNSTAAFL. Follow up to this post.
[SFW] [business] [+4 Sad]
[by JWWargo@7:39amGMT]

Comments

steele said[1] @ 10:55am GMT on 4th Oct [Score:2]
And from what I've read, they're better off . Also note that Amazon's turnover rate is high as shit, as random internet guy in the comments of one of these fb posts claimed to have worked amazon and pointed out that Amazon often would lay off people before they reached their stock claim date, only to rehire them as contractors a few months later making them no longer eligible for stock. Again, random guy, take it with a whatever, but it sounds likely based on what we already know of their business practices.

But still, Fuck Bezos and co, as this absolutely meant sound as bad as news and randos on the internet are making it out to be. "Gee, we sure wanted to give you more money, but they're MAKING us give you a higher flat rate.🤷‍♂️"
damnit said @ 12:26pm GMT on 4th Oct [Score:1 Insightful]
My friend worked at an Amazon warehouse earlier this year. They were not eligible for raises or bonuses. This a win for most people.

I'd rather they spread the wealth than hold it hostage in bonus form.
bbqkink said @ 3:57pm GMT on 4th Oct
And the bonus was no way equal to the amount now paid...the minimum for a living wage
mechavolt said @ 3:34pm GMT on 4th Oct [Score:1 Underrated]

TNSTAAFL. Bullshit. This isn't about freebies, this is about reallocating profits/spending to ensure workers make a livable wage. It didn't have to come from employee benefits, it could have easily come from somewhere else. A livable wage doesn't mean money from nowhere, it means distributing existing money differently based on the assumption that everyone deserves to survive.
0123 said @ 4:42pm GMT on 4th Oct [Score:-3]
filtered comment under your threshold
Hugh E. said @ 11:09am GMT on 4th Oct
This initially sounds cruel, vindictive, and mean because it likely is. But, it is possible the ripple effect of a higher base wage will benefit those who don't have the options of stocks and bonuses.

Most Americans claim to live paycheck to paycheck. For the ones for whom it is actually true (dismissing those leasing the two SUVs sending their kids to prep school), that immediate, certainty of income may be preferred. It's not a path to wealth, but eRobber iBarons don't want you to have that anyway.
milkman666 said @ 2:20pm GMT on 4th Oct
"This will shut them up"
*Grants $15 an hour*
"It's too quiet now"
*Revokes bonus's and stock options*
steele said @ 3:56pm GMT on 4th Oct
Not even stock options. You got a share of stock after working there for like a year. And the bonuses were just a shifty way of financially punishing people for taking time off.
milkman666 said @ 5:16pm GMT on 4th Oct [Score:1 Underrated]
This move by Amazon struck me as funny because ostensibly it's to take out the wind from the sails of people pushing for proper wages. In reality it validates that you should always keep pushing. Because there is an inevitable claw back attempt.
steele said @ 6:11pm GMT on 4th Oct
Absolutely. This is a total class war and it's about time it stopped being so one-sided.
0123 said @ 2:57pm GMT on 5th Oct [Score:-2]
filtered comment under your threshold
bbqkink said @ 3:53pm GMT on 6th Oct [Score:-2 Trollfood]
filtered comment under your threshold
0123 said @ 4:21pm GMT on 6th Oct [Score:-2 Boring]
filtered comment under your threshold
bbqkink said @ 5:26pm GMT on 6th Oct [Score:-2 Trollfood]
filtered comment under your threshold
0123 said @ 5:55pm GMT on 6th Oct [Score:-2 Boring]
filtered comment under your threshold
rylex said @ 7:04pm GMT on 6th Oct [Score:-1]
filtered comment under your threshold
bbqkink said[1] @ 6:30pm GMT on 6th Oct [Score:-2 Trollfood]
filtered comment under your threshold
0123 said @ 7:03pm GMT on 6th Oct [Score:-2 Boring]
filtered comment under your threshold
bbqkink said @ 7:09pm GMT on 6th Oct [Score:-2 Trollfood]
filtered comment under your threshold
bbqkink said @ 7:34pm GMT on 6th Oct [Score:-2 Trollfood]
filtered comment under your threshold
norok said @ 1:21am GMT on 6th Oct
I don't think it was about shutting anyone up. I think many people are missing the bigger picture.

Now Amazon's retail competitors either by market forces or lobbying efforts will be compelled to offer $15/hour further driving them out of business. All while Amazon gets to pretend to take the PR high ground. It was never about the workers; it is all business.
milkman666 said @ 2:11am GMT on 6th Oct
Retail competitors? Amazon has one brick and mortar store. So whats the bulk of the employees affected? Warehouse workers, and Whole Foods employees. So these are the players that will be affected. What about small grocery stores? How will the small country corner store or urban bodega weather the talent drain going to whole foods? I think they will do allright.

Don't get me wrong, i agree there will be upward pressure on wages. I think that's a bonus. If a larger portion of the actual wealth generated by the average worker, was actually in the average workers pocket to spend, the upper one percent would not only be unable to field private armies to guard their new zealand doomsday bunkers, they would find out that they didn't need them.
norok said @ 2:59am GMT on 6th Oct
It's the retail space as a whole; and the brick-and-mortar stores that are having the foresight to shift out of necessity to compete with Amazon's fulfillment model.

Your grocery example is valid though for now as food is a sort of niche of retail that is much harder to replace with warehouse fulfillment due to perishability. But let me throw a wrench in that point... consider Amazon's other industry leadership with AWS and AI. Algorithmic prediction of consumer food consumption is a perfect use case for zero inventory logistics. You can bet they will be going after that market as well.
milkman666 said @ 3:27am GMT on 6th Oct
Its a fine line to walk. You want growth, you want greater and greater market share, up until the point you realize its the 21st century's answer to Teddy Roosevelt knocking on your door.
bbqkink said @ 8:24pm GMT on 6th Oct
“No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.”
R1Xhard said @ 2:53pm GMT on 4th Oct
So trying to pit "middle class" against upper "lower class".

Revolt comrades :p


Post a comment
[note: if you are replying to a specific comment, then click the reply link on that comment instead]

You must be logged in to comment on posts.



Posts of Import
Karma
SE v2 Closed BETA
First Post
Subscriptions and Things

Karma Rankings
ScoobySnacks
HoZay
Paracetamol
lilmookieesquire
Ankylosaur