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10.07.2020

Amazon plans at least $100 million in stocks to keep workers

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The company will pay $1.3 billion in cash for the takeover

Stocks impacted: Amazon.com Inc (AMZN)

Amazon plans to create at least $100 million in stock awards to retain the 900-plus employees of Zoox. Zoox is a self-driving car startup it offered to buy last month. Amazon will pay $1.3 billion in cash for the takeover, which the parties hope to close by September. The Amazon-Zoox deal documents describe two lists of “key employees.” The online retailer plans to offer jobs to three schedules of other Zoox employees, requiring that 90% of the first two and 88% of the third accept jobs to close the deal. Amazon stocks that exceeded the $3,000 mark, gained 3.29% overnight. The company’s shares are up nearly 50% year to date.

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