Amazon assures Sanders worker pay won't drop after ending bonuses, stock options

Amazon assures Sanders worker pay won't drop after ending bonuses, stock options
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Amazon is assuring Sen. Bernie SandersBernard (Bernie) SandersWarren, Klobuchar call on FTC to curtail use of non-compete clauses RNC says it raised .6 million in February Pollster says 'it's certainly not looking good' for Trump ahead of 2020 MORE (I-Vt.) that its employees will earn more after it raises its minimum wage despite discontinuing stock options and bonuses.

In a letter sent to the senator Tuesday, Amazon head of global corporate affairs Jay Carney said that the raise in wages will “more than compensate” for the elimination of other benefits.

“The significant increase in hourly cash wages effective November 1 more than compensates for the phase out of incentive pay and future [restricted stock unit] grants,” Carney wrote in the letter.

“In addition, because it’s no longer incentive-based, the compensation will be more immediate and predictable.”

Amazon raised its minimum hourly wage to $15 after an intense public campaign from Sanders about how the company treats its employees.

The Vermont senator followed up in a letter to Carney last week after media reports detailed how some Amazon workers were dismayed at losing out on stock options and incentive pay as a result of the wage hike.

Carney said Wednesday that employees who have grants that will vest in the next two years will be able to keep them. Amazon also plans to roll out a direct stock purchase plan for employees next year.

Sanders has also been carrying out public campaigns against companies like Disney and McDonald's over worker compensation, leading to Disney World announcing its own pay raise to $15 an hour.