Paid to quit

[zap]

Here's our favorite part of Amazon (AMZN (http://investing.money.msn.com/investments/stock-price?symbol=amzn)) CEO Jeff Bezos' annual letter to shareholders (http://www.sec.gov/Archives/edgar/data/1018724/000119312514137753/d702518dex991.htm). http://media-social.s-msn.com/images/blogs/2b328cabd7e34f07ba2e0b51063e45e2.jpg


He describes how the company will pay Amazon's warehouse workers up to $5,000 to quit their jobs.

The intent of the program is to ensure that Amazon retains only people who really, really want to work at Amazon.




"The second program is called Pay to Quit. It was invented by the clever people at Zappos, and the Amazon fulfillment centers have been iterating on it. Pay to Quit is pretty simple. Once a year, we offer to pay our associates to quit. The first year the offer is made, it’s for $2,000. Then it goes up one thousand dollars a year until it reaches $5,000. The headline on the offer is 'Please Don’t Take This Offer.' We hope they don’t take the offer; we want them to stay. Why do we make this offer? The goal is to encourage folks to take a moment and think about what they really want. In the long-run, an employee staying somewhere they don’t want to be isn’t healthy for the employee or the company."


You can read the entire letter here (http://www.sec.gov/Archives/edgar/data/1018724/000119312514137753/d702518dex991.htm).

[Ponce]

The shit has just hit the fan.....cheaper than paying for unemployment, salaries, taxes and all the rest of the goodies.......very smart.

V

[Neuro]

I am sure they point this offer to anyone complaining about work conditions...

[Glass]

could you do it for a year to pick up a cool $2K

[palani]

Note those are 'associates' rather than 'employees'?


"What did you want to see me about, Mr. Leland?"
"Kramer, I've been reviewing your work. Quite frankly, it stinks."
"Well, I've been having trouble at home and, uh, I'll work harder. Nights, weekends, whatever it takes."
"No, no, I don't think that's going to do it. These reports you handed in, it's almost as if you have no business training at all. I don't know what this is supposed to be."
"Well, I'm just trying to get ahead."
"I'm sorry, there's just no way that we can keep you on."
"I don't even really work here."
"That's what makes this so difficult."
- Kramer and Mr. Leland, in "The Bizarro Jerry"

[Twisted Titan]

Great way to make sure you dont keep long term proles.

The 5k is taxed differently so the gubbermint gets a bigger cut.

And that ,bonus, is a sweet tax loss deduction for Amzy.