The company ‘Amazon Inc.’, has decided to more than double the maximum base salary, which the company is paying to the employees from 160,000 dollars and 350,000 dollars. The company said that, in the year 2021 has now been particularly seeing competitive labour market, and in the process of doing a thorough analysis of the different options, along with weighing the economics of the company’s business and the need for the remaining competitive for retaining and attracting the top talent in the company.
The company said, they have also decided for making the meaningful larger increases to the levels of compensation of the company than they are doing in a typical year, and the company also said that, it had been increasing the ranges of compensation of most of the jobs across the globe and the company is also changing the timing of the stock awards for the purpose of aligning with the promotions.
Like most if the big companies, the company has now been struggling for retaining and hiring the workers, and the company has been largely relying on the stock awards and the company can now entice workers for the purpose of taking the positions even if the basic pay of the employees has been low.
The company is currently having 1.6 million employees across the globe as of 31st December 2022 that is also including the warehouse workers who are actually paid hourly and staff of the office who are earning the annual salaries.