Amazon is walking back staffers' raises after an internal bug miscalculated compensation
Summer is officially over. As we creep into fall, now's a good time to evaluate your time off: have you used your vacation days yet — or do you at least have plans to do so?
Our story on the efficacy of unlimited PTO is a good reminder to schedule the rest of your vacation days for the remainder of the year, and to take the time you need to avoid burning out.
We're looking at that and more today — but first, let's kick things off with the latest on Amazon compensation.
I'm your host, Jordan Parker Erb. Let's dive in.
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1. Leaked email reveals that Amazon is walking back employees' raises. A software bug caused Amazon to overstate some corporate employees' raise packages, according to the email.
Many Amazon employees who just got promoted are finding out that their raise packages actually won't be as high as they thought, according to an email seen by Insider that was sent to managers on Thursday.
Per the email, the glitch caused Amazon to overstate bonuses for recently-promoted employees by relying on older, higher stock prices for Amazon shares. The glitch was fixed by the company on Tuesday.
The glitch comes amid an upswell of discontent over pay at Amazon. In response, Amazon nearly doubled its base pay cap and promised raises, but that wasn't enough to quell the gripes.
Read our exclusive report here.
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4. Leaked documents show where Microsoft's new moonshot team is placing its bets. The team's first growth strategy plan, viewed by insider, reveals the group's desire to change Microsoft's image "from being viewed as a productivity vendor to a strategic cloud and mission-driven innovation provider." Everything we learned from the leaked documents.
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8. Tesla recalled more than a million cars over a fault with its automatic windows. According to a filing from the National Highway Traffic Safety Administration, the automatic reversal system on some vehicles' windows might not work correctly if an obstruction gets in the way. Here's which Tesla models may be affected.
Odds and ends:
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10. A YouTuber remotely crashed his car — to test out the iPhone 14's new crash-detection feature. YouTuber TechRax taped the phone to the back of the driver's seat. After a direct hit into junkyard vehicles, he found an alarm was going off from the phone, showing the feature works. More here.
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Shopify hired Jeff Hoffmeister as its CFO, and announced a number of new hires and promotions to its C-suite.
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email firstname.lastname@example.org or tweet @jordanparkererb.)
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