Sharing The Fruits Of Success, Amazon-Style

from the maybe-he-can-host-a-barbecue dept

theodp writes “‘The effected people have contributed to the success of the company, as we do well, they should share in the fruits,’ pledged Amazon CEO Jeff Bezos in January, 2001, as he announced the formation of a stock trust fund to benefit 1,300 employees he was laying off. Friday’s Seattle Post-Intelligencer reports Bezos sold another 950,000 shares of Amazon stock last month for $15.5 million, bringing his post-layoff announcement take to close to $80 million and total personal sales to more than $120 million, taking the sting out of that more widely publicized sysadmin-level salary of $81,840. And how have the ‘effected people’ fared? While the latest Stakeholder Trust Plan filing discloses that no benefits can be paid until August, 2003, it does note that 530 shares of the laid-off employees’ stock had to be liquidated to pay administrative fees of $7,536. “

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