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☆ How much Amazon pays employees for Prime Video jobs
▼ + stars: | 2024-04-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

Amazon is spending big on content and new hires as it takes on Netflix, Disney+, and others in streaming. It recently listed 255 job openings at Prime Video, 100 of them in the US. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWhile most of Hollywood has trimmed its entertainment budget, Amazon shelled out $18.9 billion on music and video in 2023, a 14% increase, according to its annual report. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Netflix, Disney, Service, Business Locations: Hollywood

☆ How Overtime is turning high school sports leagues into a $100 million business
▼ + stars: | 2024-02-27 | by ( Lucia Moses | Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

This year, Overtime is on track to make $100 million based on deals that are locked in, a 30% year-over-year increase. Amazon pays Overtime to stream its Overtime Elite basketball league, which pays its teen players upwards of $100,000 annually plus bonuses. Advertisement"We have three-year sponsorship deals with major brands," Porter said, referring to Overtime's league deals. For example, GMC and C4 Energy drink pay Overtime to sponsor its Overtime Elite practice courts and Overtime Boxing ring, respectively. Its young audience also poses some limitations.

Persons: —, Dan Porter, CRO Rich Calacci, Porter, it's, that's, Megan Marks, Zack Weiner, It's, Breanna Stewart who's Organizations: Service, GMC, State, Adidas, Amazon Prime, Elite, Business, NBA, C4 Energy, Dentsu Media, millennials, NFL, Endeavor, Liberty Media Corp, Netflix Locations: America

☆ Amazon is chopping hundreds of jobs at its One Medical and Pharmacy units as part of a new cost-cutting mandate
▼ + stars: | 2024-02-06 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Amazon's healthcare units, including One Medical and Amazon Pharmacy, are conducting fresh layoffs as part of a broader cost-cutting campaign, Business Insider has learned. The layoffs will impact "few hundred roles," Amazon's spokesperson confirmed in an email to BI. Amazon has started the year with a flurry of job cuts across a number of units including Twitch, Prime Video , Audible , and Amazon Pay. In an email to BI, Amazon's Amazon Health Services Senior Vice President Neil Lindsay confirmed the layoffs. "Unfortunately, these adjustments will result in the elimination of a few hundred roles within Amazon Pharmacy and One Medical.

Persons: Amazon's, Brian Olsavsky, Neil Lindsay, Lindsay, iRobot, Amir Dan Rubin Organizations: Amazon Pharmacy, Business, Amazon, Amazon Health Services, MGM

☆ Amazon's latest layoffs hit its Buy with Prime unit
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is laying off about 30 employees in its Buy with Prime unit, CNBC has learned, as it continues to look for ways to trim costs. The cuts affect fewer than 5% of staff in the Buy with Prime division, Amazon said. Buy with Prime is a service that lets online stores offer the same two-day shipping benefits available to Prime subscribers. Amazon said it's assisting Buy with Prime employees who were laid off in finding new roles elsewhere within the company. WATCH: Amazon lays off hundreds of roles across Twitch, Prime Video and MGM Studios

Persons: we've, Santos, Peter Larsen, Amazon Organizations: CNBC, Amazon, Prime, MGM, Google, Xerox, Unity, Employees, MGM Studios

☆ Amazon employees fear increased 'quiet firing' tactics and a 'brain drain'
▼ + stars: | 2024-01-13 | by ( Eugene Kim | Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Silent sacking, Garrison told BI, "is how Amazon is going to reduce operational costs without negatively affecting the stock price. Some Amazon employees recently took to Slack to announce their resignations specifically over the return-to-hub policy. Another AWS employee told BI they feel like they are "doing the job of three people." Any suggestion to the contrary is untrue," the Amazon spokesperson said. Are you an Amazon employee or do you have insight to share?

Persons: they're, Justin Garrison, Garrison, wasn't, URA, hasn't, that's, Slack, RTO, we'd, They've Organizations: Service, Amazon, Business, BI, Amazon Web Services

☆ Leaked email shows Amazon is slashing jobs in its Audible division, following job cuts at other teams
▼ + stars: | 2024-01-11 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon is cutting 5% of the workforce at its Audible division, according to an internal email obtained by Business Insider. On Thursday, Audible's CEO Bob Carrigan wrote an email to his team notifying the "tough decision to reduce roles within our organization," the email said. The job cuts follow broader layoffs at other parts of Amazon this week. Internal messages suggest more job cuts in Amazon Pay and marketing roles, as BI previously reported . Amazon acquired Audible, which provides audiobooks and podcasts, for roughly $300 million in 2008.

Persons: Bob Carrigan, Carrigan, we've, It's, Eugene Kim Organizations: Service, Business, Amazon, MGM Studios, Pay, Global

☆ Should a company rate its staff? A former Amazon exec says 'stack ranking' is useful when done right
▼ + stars: | 2023-12-05 | by ( Lucy Handley | ) www.cnbc.com time to read: +6 min

What is 'stack ranking?' "Stack ranking" is an employee rating system popularized by executive Jack Welch in the 1980s during his time as CEO of GE. Does stack ranking work? And in many cases, having a stack ranking system is actually helpful, because there's an objective, collaborative process to evaluating employees," he said. Why is stack ranking controversial?

Persons: —, Alykhan Sunderji, Sunder, Jack Welch, Sunderji, Banks, Goldman Sachs, McDonald's, Chris Kempczinski Organizations: Amazon, CNBC, GE, Amazon Pay, Google, Microsoft, Origin, New York Times

☆ Amazon hit by strikes, protests across Europe during Black Friday trade
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +3 min

"Make Amazon Pay", a campaign coordinated by the UNI Global Union, said strikes and protests would take place in more than 30 countries from Black Friday - the day after the U.S. Thanksgiving holiday, when many retailers slash prices to boost sales - through to Monday. In Germany, Amazon's second-biggest market by sales last year, around 250 workers were on strike at a Leipzig warehouse and around 500 at an Amazon warehouse in Rheinberg, trade union Verdi said on Friday. More than 200 workers were striking on Friday at Amazon's warehouse in Coventry, England as part of a long-running dispute over pay. The striking workers were chanting their demand for a pay rise to 15 pounds ($18.69) an hour. Amazon has remained popular in Europe even as rivals like Shein and Temu have seen rapid growth.

Persons: Amazon's, Verdi, Nick Henderson, Amazon, CGIL, CCOO, Helen Reid, James Davey, Phil Noble, Matthias Inverardi, Elisa Anzolin, Corina Pons, Sharon Singleton Organizations: UNI Global Union, U.S, Amazon, Castel, Reuters Graphics, Thomson Locations: Europe, U.S, Germany, Leipzig, Rheinberg, Amazon's, Coventry, England, Castel San Giovanni, France, London, Dusseldorf, Milan, Madrid

WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe. WHAT ARE RETAILERS DOING TO ATTRACT HOLIDAY SHOPPERS? Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.

Persons: Marcus Collins, Collins, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Dana Telsey, Leonardo Fernandez Viloria, David Bujnicki, Kimco, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Herbert Lash, Josie Kao Organizations: Retailers, Department, Ross School of Business, University of Michigan, Dollar, Walmart, Associates, Nordstrom, Adobe Analytics, Electronics, Mastercard, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Black, REUTERS, Adobe, Labor, Kimco Realty Corp, Consumers, Deloitte, Reuters, Thomson Locations: U.S, Europe, Philadelphia, China, United States, Caracas, Venezuela, Panama, Israel, Sixth, Washington, Germany, India, Spain, United Kingdom, Bengaluru, London

☆ Amazon protests in Europe target warehouses, lockers on busy Black Friday
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +3 min

On Black Friday, the day after the U.S. Thanksgiving holiday, many retailers slash prices to boost sales. More than 1,000 workers at Amazon's warehouse in Coventry, England, will strike on Friday, according to trade union GMB, as part of a long-running dispute over pay. Many Amazon shoppers use its lockers, which are located in train stations, supermarket car parks, and street corners, to receive their orders. Attac, which calls Black Friday a "celebration of overproduction and overconsumption", said it expects the protest to be wider than last year, when it estimates 100 Amazon lockers across France were targeted. "Make Amazon Pay", a global campaign coordinated by UNI Global Union, said strikes and protests would take place in more than 30 countries from Black Friday through to Monday.

Persons: Pascal, Amazon's, Verdi, CGIL, CCOO, Helen Reid, James Davey, Matthias Inverardi, Elisa Anzolin, Corina Pons, Sharon Singleton Organizations: Workers, U.S, Amazon, GMB, Trade, Amazon's, Castel, UNI Global Union, Thomson Locations: Boves, France, Europe, U.S, Germany, Bad Hersfeld, Dortmund, Koblenz, Leipzig, Amazon's, Coventry , England, London, Castel San Giovanni, Black, Dusseldorf, Milan, Madrid

☆ Amazon hit by strikes, protests across Europe during Black Friday
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +4 min

In England, more than 200 workers were striking on Friday at Amazon's warehouse in Coventry as part of a long-running dispute over pay. The striking workers were chanting their demand for a pay rise to 15 pounds ($18.69) an hour. [1/4]People hold a banner during a Black Friday strike outside the Amazon warehouse, in Coventry, Britain November 24, 2023. Spanish union CCOO called for Amazon warehouse and delivery workers to stage a one-hour strike on each shift on "Cyber Monday" next week. Amazon has remained popular in Europe even as rivals like Shein and Temu have seen rapid growth.

Persons: Amazon's, Verdi, Nick Henderson, Phil Noble, Amazon, CGIL, CCOO, Helen Reid, James Davey, Matthias Inverardi, Elisa Anzolin, Corina Pons, Nick Zieminski, Jason Neely Organizations: UNI Global Union, U.S, Amazon, REUTERS, Reuters Graphics, Thomson Locations: Europe, U.S, Germany, Rheinberg, Leipzig, England, Amazon's, Coventry, Britain, Italy, Castel San Giovanni, Spanish, France, London, Dusseldorf, Milan, Madrid

☆ Amazon faces Black Friday strikes and protests on 'Make Amazon Pay' day
▼ + stars: | 2023-11-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Amazon workers at a UK warehouse are striking on one of the retailer's busiest days, Black Friday. AdvertisementSome Amazon workers in the UK have gone on strike this Black Friday in what a union called the largest day of industrial disruption in the company's 30-year history. The online retail giant also faces action and protests in the US, France, Germany and dozens of other countries as part of a day of action called "Make Amazon Pay." The union will also hold a demonstration in support of the striking workers outside Amazon's UK headquarters in London. Gearing said Friday's strikes would be "the largest day of industrial disruption in Amazon's 30-year history."

Persons: —, Christy Hoffman, Jacob King Organizations: Service, UNI Global Union, UNI, Amazon, Business, Guardian Locations: US, France, Germany, Coventry, England, London

☆ German union Verdi calls for strikes at Amazon on Black Friday
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 23 (Reuters) - German trade union Verdi has called on members to go on strike at five Amazon (AMZN.O) distribution centres across Germany on Black Friday, it said in a statement on Thursday. Strong demand thanks to bargains on Black Friday mean the day is usually one of the most profitable for online retailers like Amazon. "Amazon employees have decided to rename Black Friday 'Make Amazon Pay Day'", said Silke Zimmer, the member for retail on Verdi's governing board. "It's not for nothing that half of our colleagues have been with us for over five years," the Amazon spokesperson said.

Persons: Pascal, Verdi, Silke Zimmer, Matthias Inverardi, Louis van Boxel, Woolf, Emma, Victoria Farr, Miranda Murray, Daniel Wallis Organizations: REUTERS, Amazon, Bad, Thomson Locations: Lauwin, France, Germany, Koblenz, Leipzig, Rheinberg, Dortmund, U.S

☆ Amazon offers career opportunities, both remote and in-office. The hiring landscape of jobs is still fluid.
▼ + stars: | 2023-11-13 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +3 min

However, Amazon still features a remote jobs page on its AmazonJobs website. AdvertisementAdvertisementHowever, Amazon still features a remote jobs page on its AmazonJobs website that says "Amazon has virtual (or "remote") positions available to qualified individuals who live in some areas." The company says that remote work can be discussed with a recruiter during the interview process. Here are some examples:An Area Manager II position based in Ohio with the option for virtual work has a pay range of $61,400 to $100,000 per year. A virtual Operations Engineer annual salary ranges from $48,600 to $93,500AdvertisementAdvertisementThe AmazonJobs website includes a page about remote work opportunities.

Persons: — Organizations: Service, Amazon Locations: Ohio

☆ Amazon to collect expiring 2,000-rupee notes from Indian customers
▼ + stars: | 2023-06-21 | by ( Tanvi Mehta | ) www.reuters.com time to read: +1 min

NEW DELHI, June 21 (Reuters) - Amazon (AMZN.O) said on Wednesday it will collect soon-to-be-withdrawn 2,000 rupee ($24) notes from customers in India and credit them to online wallets to help people struggling with the exchange process. Amazon said its customers can hand over up to 50,000 rupees' worth to delivery agents for orders meant for payment via cash. The amount will then be credited to their Amazon Pay wallets. "Don't stress if stores are refusing to accept 2,000 rupee notes for payments," the e-commerce giant said in a statement. "The facility to top up your Amazon Pay balance with cash handed to delivery agents at your doorstep is one of our unique services in India," Vikas Bansal, whole-time director at Amazon Pay India, said in a statement.

Persons: Amazon, Vikas Bansal, Tanvi Mehta, Andrew Heavens, Andrew Cawthorne Organizations: Amazon Pay, Thomson Locations: DELHI, India

☆ Stocks making the biggest moves midday: Affirm, Warner Bros. Discovery, Stitch Fix, Campbell Soup and more
▼ + stars: | 2023-06-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Affirm — Shares of the payments company surged 6% after Affirm and Amazon announced a new compatibility feature. Stitch Fix — The stock soared about 32% after the online personalized styling service company reported a narrower-than-expected loss for the fiscal third quarter. Stitch Fix posted a loss of 19 cents per share, compared with the 30-cent loss per share anticipated by analysts, according to Refinitiv. The company reported first-quarter earnings of $1.45 per share, while analysts polled by Refinitiv called for $1.24 per share. Revenue fell short of expectations, however, coming in at $597 million, versus the $602 million estimated by Wall Street.

Persons: Chris Licht, Buster's, Dave, Refinitiv, Morgan Stanley, Rosenblatt, Campbell, Canaccord Genuity, Coinbase, Wood, —, Jesse Pound, Brian Evans, Darla Mercado Organizations: Amazon, Revenue, Warner Bros, Dave, Wall Street, GameStop, FactSet, Petrobras —, StreetAccount, U.S . Securities, Exchange Commission Locations: Refinitiv

☆ UPS will stop delivering to some rural neighborhoods as often, as it looks to slash costs
▼ + stars: | 2023-05-18 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

UPS is piloting making less frequent deliveries in rural areas, the company confirmed to Insider. UPS is experimenting with delivering on fewer days per week in very rural areas, the company confirmed to Insider. The pilot will cover roughly 1% of zip codes, a UPS spokesperson said, noting that most UPS customers won't be affected. UPS has been adding surcharges on top of more and more rural packages in recent years to offset these costs. But that work started with rural packages where having separate facilities and staff makes even less financial sense.

☆ Stripe: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Stripe put its technology at the center of the growing internet economy, helping the fintech become one of the highest-valued private companies in the world. The San Francisco-based company, which provides payment software for e-commerce businesses, has followed its mission of "increasing the GDP of the Internet" since its founding in 2010 by brothers John and Patrick Collison. The growth of e-commerce during the Covid-19 pandemic helped turbocharge the company's revenue, as well as the revenue of the hundreds of companies that handle their payments with Stripe, including Instacart, DoorDash, Shopify and Lyft. In January, Stripe expanded its long-time partnership with the biggest e-commerce seller of all, Amazon , and it now processes a significant portion of Amazon's total payments volume across its businesses in the U.S., Europe, and Canada, from Prime to Audible, Kindle, and Amazon Pay.

☆ Read the Q&A guideline Amazon shares with managers on how to answer pay-related questions from employees
▼ + stars: | 2023-04-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +23 min

To prepare managers to discuss pay with employees, Amazon shares a lengthy Q&A guideline that addresses some of the most pressing questions, according to internal documents obtained by Insider. This includes base pay, variable pay, other cash, and equity in the form of Restricted Stock Units (RSUs) or stock. A: We plan employee's total compensation in outlook years. Q: Why am I positioned at XX in my pay range and how can I increase my pay? Clearly and directly explain the reason there was no base pay increase:"Employee A, you are at the base pay max."

☆ Amazon CEO Andy Jassy says he's confident he can get costs under control in shareholder letter
▼ + stars: | 2023-04-13 | by ( Annie Palmer | ) www.cnbc.com time to read: +38 min

Further, as machine learning adoption has continued to accelerate, customers have yearned for lower-cost GPUs (the chips most commonly used for machine learning). While some areas of the economy have struggled over the past few years, Amazon Business has thrived. Some people have never heard of Amazon Business, but, our business customers love it. For years, Amazon customers had asked us when we'd offer them an online pharmacy as their frustrations mounted with current providers. More recently, a newer form of machine learning, called Generative AI, has burst onto the scene and promises to significantly accelerate machine learning adoption.

☆ Amazon CEO Andy Jassy says his letter to shareholders follows one of the toughest economic years in recent memory. Read it in full.
▼ + stars: | 2023-04-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +38 min

☆ Amazon salaries revealed: Here's how much engineers, data scientists, and thousands of other employees were paid prior to recent layoffs
▼ + stars: | 2023-04-11 | by ( Thomas Maxwell | Eugene Kim | ) www.businessinsider.com time to read: +2 min

Amazon added hundreds of thousands of employees during the pandemic. Amazon is required to disclose salary offers in work-visa applications submitted to the US Office of Foreign Labor Certification. Insider combed through data from the office, which authorizes hiring non-US employees, then publicly releases the data. The following data excludes stock-based compensation, but it is still a valuable guide to Amazon's base salaries for a variety of positions. Insider looked at thousands of disclosed salaries that represent engineers, managers, and more.

☆ India cenbank imposes penalty on Amazon Pay for non-compliance
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, March 3 (Reuters) - The Reserve Bank of India said on Friday it imposed a penalty of 30.7 million rupees ($374,770) on Amazon Pay Private Ltd for non-compliance with directions on prepaid payment instruments and Know Your Customer (KYC) rules. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers," the RBI said in a statement. Amazon Pay is an online payments processing service owned by Amazon.com Inc (AMZN.O). ($1 = 81.9170 Indian rupees)Reporting by Chris Thomas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon Corporate Workers Face Pay Reduction After Shares Slip
▼ + stars: | 2023-02-20 | by ( Dana Mattioli | Sebastian Herrera | ) www.wsj.com time to read: 1 min

Amazon is in the midst of one of the toughest financial stretches in its history. The steep decline in Amazon .com Inc.’s stock over the past year is roiling the technology company’s stock-heavy compensation plan, resulting in employee pay coming in significantly lower than target compensation, according to people familiar with the matter. Amazon pays its corporate employees a large chunk of their annual salaries in restricted stock units, and a prolonged slump in the company’s shares is causing pay for 2023 to be between 15% and 50% lower than the projected targets Amazon gave to employees, some of the people said.

Amazon doesn't let you pay with PayPal directly, but you can use the PayPal Cash Card to make purchases. Since it's a debit card, not a credit card, you need to have a balance on your PayPal account to use a PayPal Cash Card. To apply for a PayPal Cash Card, simply go to this link, log in to your PayPal account, and follow the on-screen prompts. Buy Amazon gift cardsOne of the easiest ways to use PayPal to buy from Amazon is to purchase Amazon gift cards with your PayPal account. Just as with PayPal, Amazon Pay is accepted by numerous third-party retailers, letting you use Amazon payment methods beyond the immediate orbit of Amazon itself.

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