Amazon says no more RSUs in exchange for $15 min wage, can anyone say how much the RSUs were for those employees? I’m curious as to what the difference is?
I doubt hourly warehouse workers are getting RSUs to begin with, that tends to be for salaried positions only.
> Is anything changing with Amazon’s RSU program? > Yes, we’ve heard from our hourly fulfillment and customer service employees that they prefer the predictability and immediacy of cash to RSUs. We will be phasing out the RSU grant program for stock which would vest in 2020 and 2021 for this group of employees, replacing it with a direct stock purchase plan before the end of 2019. 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.
note,
> significantly more total compensation for employees
but is that at current AMZN prices or projected prices?
Take a look at the chart for AMZN zoomed way out. All I see with this is they want to hold back those high-growth RSUs and they're paying out in cash to distract people from looking into whether this is actually a good deal, long-term.
Most of the questions at the all-hands meeting held at my FC today were about stocks, so if they wanted to distract anyone, it didn't work.
It seems like a definite good deal for part timers and full timers who don't stay two years. For everyone else, I mean, working at a fulfillment center shouldn't be part of a long term AMZN investment strategy. Full timers already get their 401K, and the extra income seems more useful than a couple of shares years down the road.
For those hourly workers, Amazon plans to replace its RSU grant program with a direct stock purchase plan by the end of 2019. The net effect, the company says, will mean "significantly more total compensation" for the workers.
https://www.npr.org/2018/10/02/653597466/amazon-sets-15-mini...
"New Amazon Tier One employees receive a small number of restricted stock units (RSUs) within the first month of hire. These shares are set to vest after two years of continuous service. For every year of continuous service, an employee receives another small number of shares of restricted stock, always vesting two years of service later. For example, I received four shares on 8/27/14 set to vest on 8/31/16. I received four more shares on 4/2/15 set to vest on 7/1/17. I received three shares on 4/7/16 set to vest on 6/16/18."