Workers Losing Half Their Paycheck
Crazy times.
Believe it or not Joe Biden’s presidency affects everything and in some cases even your paycheck.
As you know, Biden’s handling of the U.S. economy has had detrimental effects on the stock market and now corporate workers for Amazon could see a 50% cut in their regular paychecks which has lead nearly all of their employees to panic.
According to Fox, Amazon’s stock shares have dropped by a whopping 36% over the last year alone. This has resulted in a major shake up to Amazon’s stock-heavy compensation plan which means their corporate employees will be making significantly less than they expect.
Amazon pays their corporate employees from restricted stock units that means that 2022’s dismal stock performance will result in workers losing out on anywhere from 15% to 50% of their regular paychecks.
OANDA’s market analyst Craig Erlam explained, “I struggle to see a company like Amazon not bouncing back from a decline of this magnitude.”
“Sentiment towards tech stocks takes a little longer to settle, but things should become much clearer over the next few months in respect to the economy and interest rates, at which point attitude towards tech could be very different,” he went on to say.
