Amazon Emails Staff With News It Miscalculated Their Compensation

Corporate employees at Amazon got emails about promotions and raises. Then they got emails saying the raises weren't quite what they thought. From a report: A one-time bonus that was part of their compensation package had been miscalculated due to a software error and would be lower than what they had been told, according to an email sent on Thursday and viewed by Insider. The bonuses had initially been calculated using older, higher stock prices, according to Insider, and about 40% of promoted employees this quarter were affected by the error. "We identified and immediately corrected an issue with some newly promoted employees' compensation communications," an Amazon spokesperson told Fortune. We are working with employees to ensure they understand their updated compensation." Compensation has been a major issue across the tech sector this year as a strong labor market heats up competition for workers. Earlier this year, Amazon announced its plan to double its maximum base salary to $350,000 to attract talent, something that workers at Google cited after the company's annual internal survey revealed their dissatisfaction with pay.

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