Amazon raising base salary cap

Amazon.com Inc. is raising its base salary cap amid a competitive job market.

The maximum base salary is growing to $350,000 from $160,000.

"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," company officials said in a memo to employees.

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