According to a media report, Amazon plans to reduce employee stock compensation by 2025. The company cites the economic climate and the company budget as reasons.
Business Insider reported that Wednesday, citing a message from Amazon to executives. A restructuring of the salary model is conceivable to compensate for any weakness in the share price.
The American online retailer did not immediately respond to a request for comment from Reuters. Last month, Amazon announced it would cut 9,000 jobs in a second wave of layoffs. At the beginning of the year, the company already cut 18,000 jobs because of the gloomy economic outlook in the technology sector.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
