Tuesday, July 23, 2024
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Amazon.com Inc said it would reduce employee stock awards, a part of its compensation plan, as the e-commerce giant navigates an uncertain economy.

“We made the decision to reduce RSU (restricted stock units) awards in the final outlook year by a small amount (other years are not impacted),” an Amazon spokesperson said in an emailed statement, without specifying the period of the final outlook year.

The news comes weeks after Amazon announced a second round of mass layoffs, piling on to a wave of job cuts that has swept the technology sector as a rough economy forces companies to get leaner.

Business Insider had first reported the planned change in the company’s pay structure and said Amazon would reevaluate 2025 compensation in the first quarter of next year to “plan for stock variation”.

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