April 13 (Reuters) - Amazon.com Inc (AMZN.O) did not grant its Chief Executive Andy Jassy any new stock in 2022, shrinking the pay gap between the online retailer's top boss and rank-and-file employees, the company said Thursday in a securities filing.
Amazon for months has grappled with inflation and recession fears that prompted its customers to tighten their budgets.
Aiming to slash costs, the company said it would cut 27,000 jobs and trim some stock awards.
The year prior, the ratio was 1 to 6,474, reflecting a stock grant Amazon said would take Jassy a decade to earn fully.
Reflecting the company's stock drop, Jassy's award along with older grants lost nearly $148 million of their value in 2022.