Amazon is giving a hefty boost to the maximum base pay of its corporate and tech workers, more than doubling the salary cap from $160,000 to $350,000 as part of a plan to increase its competitiveness in the tight labor market.
In an internal blog post obtained by FOX Business, the e-commerce behemoth announced the move to employees, noting that the company would be hiking pay "for most jobs globally" and that the increases are "much more considerable" than in the past.
"This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive for attracting and retaining top talent, we decided to make meaningfully bigger increases to our compensation levels than we do in a typical year," the post reads.
According to GeekWire, which first reported on the memo, the base salary increase will "bring Amazon's base pay more in line with other big tech companies, including Google, Facebook, Apple and Microsoft."
Amazon's move for corporate employees is the latest in a series of efforts to draw in and keep workers since CEO Andy Jassy took over last July.
In September, the company announced that it would offer free college tuition for more than 750,000 hourly employees, and in November, Amazon launched a tool allowing military spouses employed by the company to transfer positions at the company when they move on military orders.