Amazon to more than double its base pay cap to $350K: report
georgeclerk/iStock Unreleased via Getty Images

Amazon (NASDAQ:AMZN) is significantly raising the base pay maximum salary for most employees, bumping the cap to $350,000, up from $160,000, according to Insider, citing internal documents.
Additionally as part of the memo, new base pay ranges would be instituted for each job, with Amazon increasing compensation ranges for most jobs around the world, with the memo noting that the increases "are much more considerable than we've done in the past." 
The pay changes are set to be updated in the company's system, starting February 9, with employee-manager compensation reviews starting in April.
Amazon did not immediately respond to a request for comment from Seeking Alpha.
The compensation hike would be the latest move from big tech companies as the war for talent increases. In December, it was reported that Apple (NASDAQ:AAPL) was giving stock bonuses worth up to $180,000 to prevent defection to other tech firms, notably Meta Platforms (NASDAQ:FB).
Separately on Monday, investment firm said that if Amazon (AMZN) were to buy Peloton (NASDAQ:PTON), it would give the tech giant a number of benefits, including a boost to its Prime subscription service.