Decoding Amazon's 'Pay To Quit' Bonus Program

You must have heard of festive bonus, annual performance bonus, referral bonus. etc. But one of the world's biggest companies, e-commerce giant Amazon, offers a unique kind of bonus. The ¡®Pay To Quit¡¯ Bonus. Read on as we decode it for you.

Vanya GautamUpdated: Jan 21, 2022, 15:39 IST
2 min read
Amazon pay to quit bonus
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Annual performance bonus. Festive bonus. Referral bonus. These are some of the commonly heard bonuses, right?

But one of the world¡¯s biggest companies, e-commerce giant Amazon, offers a unique kind of bonus. The ¡®Pay To Quit¡¯ Bonus.

Also Read: 10 Hollywood Stars Who Have Invested In Their Tequila Brands

Amazon pay to quit bonus shutterstock

Also Read: No Joke: Jeff Bezos' Amazon Wants To Dim The Sun To Solve Climate Change

The Quitting Bonus

Yes, you read it right. Amazon has a "pay to quit" policy aimed to be a solution for warehouse employees who no longer wish to work there.

Once a year, the company offers to pay full-time associates at Amazon fulfilment centres a quitting bonus ranging from $2,000-$5,000.

Employees become eligible to take this bonus after one year of service.

Also Read: Indian Woman Engineer From Kalyan Helped Built Jeff Bezos' Space Rocket New Shepard

The Caveat?

While those who don't wish to continue their service for Amazon can go ahead to take up this "quitting bonus," the caveat is that they can never work for Amazon again.

Starting at $2,000, the quitting bonus keeps increasing by $1,000 per year of tenure, maxing out at $5,000, which is the maximum quitting bonus the employee can receive.

Also Read: Elon Musk Laughs At A Meme Mocking Jeff Bezos¡¯ Space Flight

Amazon¡¯s Aim Behind The Offer

Amazon pay to quit bonus EPA

Also Read: This Company Is Allowing All Its Employees To Work From Abroad For 6 Weeks Every Year

Jeff Bezos had stated that the idea came from Zappos, the online footwear and clothing retailer which Amazon bought in the year 2009.

Then, Bezos reportedly put forth this program at Amazon in 2014 through a letter to shareholders, with the headline of the offer saying "Please Don't Take This Offer."

But then, why does Amazon present such an offer if it claims to not want the employees to accept it?

As per Bezos¡¯ letter, "The goal is to encourage folks to take a moment and think about what they really want. In the long run, an employee staying somewhere they don't want to be isn't healthy for the employee or the company.¡±

Also Read: 10 Bollywood Celebrities And Their Startup Investments

For more of such interesting personal finance content, click here.

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22/11/2024 3:28:18
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