Amazon employees will reportedly gain the ability to use company shares as collateral when buying homes, in a new arrangement with online mortgage lender Better.com.
In an interview with the Wall Street Journal (WSJ), Better.com said its ‘Equity Unlocker’ product will grant Amazon’s employees the ability to pledge stock for loans for downpayments, instead of having to sell the stock to raise funds.
Better.com said that to protect itself from declines in Amazon’s stock price, it will charge a higher rate on the mortgages of employees who pledge stock, at between 0.25 and 2.5 percentage points above the market rate.
However, Better.com chief executive Vishal Garg told the newspaper that unlike in stock-based loans that carry the risk of margin calls, requiring borrowers put up more collateral or sell assets to reduce debts, Amazon employees’ loan arrangements would be protected if the stock price slides.
An Amazon spokesperson said the new service aligns with its benefits programme as it seeks to care for the financial wellness, mental wellness and physical wellness of its employees and encourage them to “think like owners”.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
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New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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