Shulou(Shulou.com)11/24 Report--

According to news in the morning of March 1, Beijing time, Better.com, the US mortgage lender, said in a statement on Tuesday local time that Amazon will allow employees to use the shares they have acquired as collateral to apply for loans during the purchase process.

"We are well aware of how difficult it is for young professionals with student loans and lack of savings to buy a house." "the problem becomes more serious when top-tier fast-growing companies increasingly use stocks rather than cash to reward employees," Better CEO Vishal Garg said in a statement.

Better said it developed the program, called Equity Unlocker, in part because they thought Amazon employees were "particularly concerned about stock compensation".

Shares account for a high proportion of Amazon's employees' compensation, but as the company's share price falls, the salaries of some employees have shrunk by up to 50% this year, adding to the concern. Amazon shares closed at $94.23 on Tuesday, up from more than $150 a year ago.

The home loan benefit applies to "former and current Amazon employees who have acquired shares," Better said. As the tech giants have scaled back, Amazon has announced 18000 layoffs, which will start this year.

Brad Glasser, an Amazon spokesman, said the project was part of a "wide range of economic benefits" offered to employees.

"We are always looking for opportunities to strengthen the welfare of our employees and provide them with better support in terms of physical and mental health and financial situation." Glaeser said.

Amazon employees are worried that the company's pay lags behind other tech giants. But Mr Glaeser says the pay model is designed to reward "long-term" thinking.

"our compensation model is to encourage employees to think like owners, so we link total compensation to the company's long-term performance," he said. "

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.