The tech layoff continues as the e-commerce giant Amazon is reportedly firing almost 500 employees in India across departments following the layoff plan announced by the company CEO, Andy Jassy earlier this year.
The biggest tech companies are continuously laying off their employees amidst the ongoing downfall of the tech industry in the economy. As per the reports, leading e-commerce company Amazon is reportedly laying off almost 500 employees in India for cost-cutting reasons.
The employees who are getting fired belong to multiple departments like Human Resources, Amazon Web Services, and Support. These employees might also belong to the global teams of the company functioning from India.
Earlier in 2023, the CEO of Amazon, Mr Andy Jassy announced the company’s plans to lay off a massive 18,000 employees mentioning the reasons to be the excess hiring during the pandemic, the uncertain economy, and the company’s plan for a stronger and better future in the long run.
The statement by Andy Jassy posted on the company website read:
“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount.” He also said, “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so. These changes will help us pursue our long-term opportunities with a stronger cost structure.”
In March 2023, Amazon announced a global job cut for 9,000 employees in the coming days as part of its layoff plan. Following this, the news of a second round of layoffs has surfaced.
Even though the company hasn’t yet confirmed the reports of laying off 500 Amazon employees in India, the recent slowdown in Amazon’s business in India hints the reports are true.
As per the sources, the CEO of Amazon has also announced a severance package that will include transitional health insurance benefits, separation payment, and external job placement support for the employees being laid off.
According to a few reports surfaced in April, the company is planning for a change in its pay model. Amazon might cut down the number of shares it will give to its employees as compensation in 2025 and may give more cash to its employees.
Amazon’s laying-off process is still ongoing and the other largest tech companies are also continuously laying off huge numbers of employees. Most of the companies have paused hiring new employees across verticals and this sure is an alarming situation when we talk about the job security of the employees working in such globally recognized companies.
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