Amazon Sets Up Trust Fund For Laid Off Workers
from the that's-weird... dept
By now, you’ve probably heard from elsewhere that Amazon.com is laying off 1,300 workers but it gets a little stranger. Instead of just cutting them off and giving them some severence pay, Amazon has set up a trust fund with $2.5 million worth of Amazon stock. The trust fund will remain until mid-2003 when it will be distributed to those laid off employees. Thus, if Amazon does well over the next few years, the employees could get a nice (if very delayed) additional severence package. I guess the idea is so that these laid off workers don’t go around trashing Amazon.com, but I’m not sure if that will work. Already, some workers are questioning why certain groups were hit harder than others.
