Why Amazon is asking employees for voluntarily resign

Amazon asking employees to voluntarily resign before November 29

For employees who are prepared to leave the company, Amazon will provide a three-month severance package as well as one week's compensation for every six months of employment.

Updated by HR Nisha Bosco | November 19, 2022

      Amazon is asking employees to voluntarily resign before November 29. (Image credit: The Economic Times)

Highlights:

• The News Of Amazon Layoff
• The News Of Meta Layoff
• The News Of Twitter Layoff
  
  

• The News of Amazon Layoff

Amazon has already made thousands of layoffs public, but it has since come to light that the corporation is encouraging employees to voluntarily quit. The e-commerce behemoth is reportedly sending out "voluntary severance" offers to select employees across many businesses. The employee services and human resources departments are also included in this.

For employees who are prepared to leave the company, Amazon will provide a three-month severance package as well as one week's compensation for every six months of employment. In addition, the offer will come with a 12-week stipend that may be "used to reduce COBRA premiums," according to the source. By the end, employees will still receive insurance.

Amazon has set a deadline for this and does not require consumers to make a decision right now. According to reports, the workers have until November 29 to determine whether they wish to voluntarily retire. In case they change their minds, people would then have the option to withdraw their application for the same till December 5.

The e-commerce behemoth will notify the accepted resignations by the middle of next month, and their effective departure date will be December 23. As part of its cost-cutting efforts, Amazon has also let go of many employees. The device group, which includes the Alexa voice assistant, the retail division, and human resources, are said to have made the job cuts.

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Meta announced that it will be firing 11,000 employees to save costs.

Meta announced that it will be firing 11,000 employees to save costs. (Image credit: CNBCTV18.com)

• The News of Meta Layoff
  
  Facebook’s parent company Meta today announced they would fire more than 11,000 employees to reduce costs.
  
  Meta announced that it will be firing 11,000 employees to save costs.
  
  The chief executive of Meta, Mark Zuckerberg, issued an apology to the company's staff for cutting the size of our workforce by around 13% and letting more over 11,000 of our best workers depart. In the fiscal year that ended in March 2022, Meta's revenues in India for the first time exceeded $2 billion. The tech sector is generally concerned about a slowdown in the world economy.
  
  Employees who lose their positions at Meta will receive a severance package that includes at least four months of pay, according to Lori Goler, the company's head of human resources.
  
  

Twitter recently laid off around 4000 Employees

Twitter laid off around 4000 employees. (Image credit: WIRED)

• The News of Twitter Layoff

Elon Musk abruptly fires 3500 employees, or 50% of Twitter, without giving them any warning. According to a new source, Musk sacked thousands more workers over the weekend.

There was no previous notification of layoffs given to the employees.

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