Published on: April 11, 2023
• The Seattle Times reports that Amazon has confirmed its plan "to reduce stock awards for employees as of 2025, paring down one of the compensation benefits that made the Seattle-based company an attractive sell for employees.
"Amazon will reduce RSU, or restricted stock unit, awards by a 'small amount' in the 'final outlook year,' according to a note sent to managers last week … A spokesperson for the Seattle-based e-commerce company said the final outlook year is 2025.
"The change comes as the company continues to reduce its head count and prepares for its latest round of job cuts to hit workers this month. Since November, Amazon has announced plans to eliminate 27,000 jobs in a bid to streamline costs 'given the uncertain economy,' CEO Andy Jassy told employees in March.
"That uncertainty also factored into the decision to reduce stock awards, according to the note Amazon sent to managers. The decision was based on the combination of 'an uncertain economy,' Amazon’s overall compensation budget and the possibility that the company could adjust its compensation model in the future, the note read."
• Amazon-owned Whole Foods announced that its 11 Denver-area stores now will offer its Amazon One biometric payment service, allowing customers to pay for their purchases by waving their palms - linked to a credit or debit card - over the Amazon One scanner. In addition, one of the stores, in SouthGlen, now offers customers the use of Amazon Dash Carts, featuring technology that allows shoppers to scan items as they are placed in the cart and skip checkout lines completely.
The SouthGlen store is just the fourth Whole Foods Market store in the country to adopt this new technology.