New York (CNN Business) Amazon giveth and Amazon taketh away.

The company announced Tuesday that it will raise its minimum wage to $15 an hour for all US employees. But tucked away in the announcement was the fact that Amazon will phase out its bonus and stock award programs for its hourly workers. The change was first reported by Bloomberg Wednesday.

The company maintains that workers will make more money under the new system. All hourly workers will get a bump in pay, even if they are already making $15 an hour.

"The significant increase in hourly cash wages more than compensates for the phase out of incentive pay and RSUs [restricted stock units]," a spokesperson said. "In addition, because it's no longer incentive-based, the compensation will be more immediate and predictable."

The company wouldn't share details about its restricted stock unit program, though typically it's considered part of an employee's compensation and vests after a period of time. That perk could be pretty valuable for workers, especially since Amazon's stock price more than doubled over the past year.

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