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<blockquote data-quote="Old Man Jingles" data-source="post: 3990364" data-attributes="member: 18222"><p><span style="font-size: 18px"><strong><a href="https://www.wsws.org/en/articles/2018/10/16/amaz-o16.html" target="_blank">Celebrated $15 base pay represents pay cut for some workers</a></strong></span></p><p></p><p><strong><span style="font-family: 'Tahoma'"><span style="color: #000066">Your suspicions were warranted! Bezos is a slimy POS.</span></span></strong></p><p></p><p><em>Many Amazon workers do not share in the celebratory atmosphere being whipped up by Amazon, Sanders and the Democratic Party. Amazon workers, through bitter experience, have learned that this company touts every tyrannical policy as some sort of favor or benefit. Like all contracts with the devil, <strong>it is necessary to read the “fine print.”</strong></em></p><p><em></em></p><p><em>As a preliminary matter, the new base pay affects Amazon workers in the US and the UK only. It has no effect on the hundreds of thousands of employees employed by Amazon in Europe and Asia. Amazon contract workers in India continue to earn as little as 12,000 rupees a month, or around $163. This translates to around $1 per hour for a full-time worker. At the outset, it is clear that Amazon’s supposed<strong> </strong></em></p><p><em><strong>change of heart has a limited geographic scope.</strong></em></p><p><em></em></p><p><em>In addition, in both the US and the UK, </em></p><p><em><strong>the change of the base pay from $12 to $15 will be accompanied by major cuts to benefits and incentives.</strong> </em></p><p><em>Multiplying this WAGE difference by 40 hours a week and 50 weeks a year, she will see an ...</em></p><p><em><strong>... increase of around</strong> <strong>$4,300 annually. </strong></em></p><p><em></em></p><p><em>As the WSWS has <a href="http://www.wsws.org/en/articles/2018/10/13/amaz-o13.html" target="_blank">reported</a>, the pay increases in the US and the UK will be accompanied by the elimination of Variable Compensation Pay (VCP) incentives together with a stock vesting program.At the rate of $250 per month over 12 months, the elimination of these benefits amounts to a ...</em></p><p><em><strong>...<span style="color: #ff0000"> pay cut of up to $3,000 annually</span>.</strong></em></p><p><em>Amazon whistleblower Shannon Allen other workers who joined around the same time were enrolled in a <strong>stock vesting program</strong> pursuant to which workers received one or more shares of Amazon stock per year of working at Amazon. The current price of Amazon stock is over $1,700. This benefit will be eliminated under the new framework. Stocks that were scheduled to vest in 2019 and 2020, which workers could see on their online portfolios, are now showing a vesting date of the year 2100. Workers are being told that these stocks are being replaced with an<strong> ...</strong></em></p><p><em><strong>...<span style="color: #ff0000"> “option” to buy the same stocks.</span></strong></em></p><p> </p><p><strong><span style="color: #000066">Looks like the wage increase is pretty much offset by non-publicized cuts in benefits in a decision by the wealthiest person in the world (at least until his divorce is settled).</span></strong></p><p><strong><span style="color: #000066"></span></strong></p><p><strong><span style="color: #000066">[ATTACH=full]239882[/ATTACH] </span></strong></p></blockquote><p></p>
[QUOTE="Old Man Jingles, post: 3990364, member: 18222"] [SIZE=5][B][URL='https://www.wsws.org/en/articles/2018/10/16/amaz-o16.html']Celebrated $15 base pay represents pay cut for some workers[/URL][/B][/SIZE] [B][FONT=Tahoma][COLOR=#000066]Your suspicions were warranted! Bezos is a slimy POS.[/COLOR][/FONT][/B] [I]Many Amazon workers do not share in the celebratory atmosphere being whipped up by Amazon, Sanders and the Democratic Party. Amazon workers, through bitter experience, have learned that this company touts every tyrannical policy as some sort of favor or benefit. Like all contracts with the devil, [B]it is necessary to read the “fine print.”[/B] As a preliminary matter, the new base pay affects Amazon workers in the US and the UK only. It has no effect on the hundreds of thousands of employees employed by Amazon in Europe and Asia. Amazon contract workers in India continue to earn as little as 12,000 rupees a month, or around $163. This translates to around $1 per hour for a full-time worker. At the outset, it is clear that Amazon’s supposed[B] change of heart has a limited geographic scope.[/B] In addition, in both the US and the UK, [B]the change of the base pay from $12 to $15 will be accompanied by major cuts to benefits and incentives.[/B] Multiplying this WAGE difference by 40 hours a week and 50 weeks a year, she will see an ... [B]... increase of around[/B] [B]$4,300 annually. [/B] As the WSWS has [URL='http://www.wsws.org/en/articles/2018/10/13/amaz-o13.html']reported[/URL], the pay increases in the US and the UK will be accompanied by the elimination of Variable Compensation Pay (VCP) incentives together with a stock vesting program.At the rate of $250 per month over 12 months, the elimination of these benefits amounts to a ... [B]...[COLOR=#ff0000] pay cut of up to $3,000 annually[/COLOR].[/B] Amazon whistleblower Shannon Allen other workers who joined around the same time were enrolled in a [B]stock vesting program[/B] pursuant to which workers received one or more shares of Amazon stock per year of working at Amazon. The current price of Amazon stock is over $1,700. This benefit will be eliminated under the new framework. Stocks that were scheduled to vest in 2019 and 2020, which workers could see on their online portfolios, are now showing a vesting date of the year 2100. Workers are being told that these stocks are being replaced with an[B] ... ...[COLOR=#ff0000] “option” to buy the same stocks.[/COLOR][/B][/I] [B][COLOR=#000066]Looks like the wage increase is pretty much offset by non-publicized cuts in benefits in a decision by the wealthiest person in the world (at least until his divorce is settled). [ATTACH=full]239882[/ATTACH] [/COLOR][/B] [/QUOTE]
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