https://www.reuters.com/technology/amazon-plans-reduce-employee-stock-awards-2025-business-insider-2023-04-05/

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1 minute readApril 5, 202310:44 PM UTCLast Updated ago

Amazon plans to trim employee stock awards amid tough economy

Reuters
The Amazon logo at the company logistics center in Lauwin-Planque
The logo of Amazon is seen at the company logistics center in
Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal
Rossignol

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April 5 (Reuters) - Amazon.com Inc (AMZN.O) 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".

The company was weighing the possibility of adjusting its
compensation model in the future to be more balanced between base
cash compensation and equity, after looking at the combination of an
uncertain economy and its compensation budget, the spokesperson said.

Amazon's shares have gained more than 20% this year, following a near
50% tumble in 2022.

Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath

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