Following Amazon's blockbuster earnings last week and recent news of employee angst over crappy pay, an internal memo from the e-commerce giant leaked to Bussiness Insider states the maximum base salary cap has been doubled.
According to an internal memo, Amazon will increase its maximum base salary to $350k, more than doubling the previous $160,000 salary cap for most employees. The memo states new base pay ranges will be set for most jobs within the company and will apply worldwide.
"The increases are much more considerable than we've done in the past.
"This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive for attracting and retaining top talent, we decided to make meaningfully bigger increases to our compensation levels than we do in a typical year," the memo states.
Insider reports the memo comes as Amazon employees have complained about low pay and the lack of compensation packages compared to competitors. The changes in maximum base salary are expected to be reflected in the company's internal system beginning on Wednesday.
Since this news just hit, we suspect Amazon's recruiting office will be flooded with phone calls and emails today of millennial white-collar workers begging for a job.