Despite the cuts and “turbulent” times, Jassy said he strongly believes Amazon’s “best days are in front of us.”
Amazon 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 published on Thursday, Jassy said he was confident the cost cuts would pay off and that Amazon’s core e-commerce and cloud computing businesses still have room to grow.
The filing showed that the pay ratio of Amazon’s median employee globally to Jassy was 1 to 38 in 2022, or about $34,000 compared with the CEO’s $1.3 million in salary and benefits. In 2021, the ratio was 1 to 6,474, reflecting a stock grant Amazon said would take Jassy a decade to fully earn.
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