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FYI, this article is back from September 2008. I'm not sure whether or not this practice is still in place now that they've grown exponentially.
Yeah, doubt the same thing can be done in today's climate where we have a 10% unemployment rate.
Earlier quoted context omitted.
Last year Amazon.com had almost a billion dollars in net income. It's quite likely that they can afford to maintain their hands-off approach with regards to subsidiaries, preserving Zappos' unique culture. edit: good catch BobbyH.
To clarify, $24.5 billion was Amazon's revenue in 2009. Net income was only 3.7% of that, or $902 million.
Sorry, could not resist this sarcasm spasm :-)
FYI, this article is back from September 2008. I'm not sure whether or not this practice is still in place now that they've grown exponentially.
I think there's a typo in the title. The article says it's $2000, not $3000.
Earlier quoted context omitted.
As far as I know this is offered for $15/hour call center people in Las Vegas (or something like that). Friend of mine told me that is about $2000 in first week and then after training it is $3000. This is quite significant chunk of money for Las Vegas area. I have no reference or proof that above is how it works, just information from person who is familiar with Zappos.
Wow? For a call center? I know that if the call center I worked for in college did that, there wouldn't be anyone left after training.
Mind games like this has a name when a SO tries something similar.
Turning down $3000 requires people to internalize a solid commitment to the company. And engenders a huge sense of camaraderie when you know that everybody else you work with has also turned down the money. And they get these two massive effects by NOT giving away money. It's worth the $3000 to get rid of employees who aren't that committed, but that's minor compared to the effects on the employees who stay.
And besides, the screening process for new employees probably filters out a decent proportion of the people who actually would be likely to take such a deal.
Turning down $3000 requires people to internalize a solid commitment to the company. And engenders a huge sense of camaraderie when you know that everybody else you work with has also turned down the money. And they get these two massive effects by NOT giving away money. It's worth the $3000 to get rid of employees who aren't that committed, but that's minor compared to the effects on the employees who stay.