Amazon layoffs expected to mount to 20,000, includes top managers: Report
Contents News/Article Date: 6th December 2022
Relating to which Act: The Information Technology Act 2020, Indian Contract Act 1872, The Industrial Disputes Act, 1947; The Industrial Employment Standing Orders Act, 1946; The Contract Labour (Regulation & Abolition) Act 1970
Applicable to which State: All the establishments in the States
Type: Newspaper report
Pertains to: employers and employees and in particular IT / ITeS employees
Relevance of this news: Karma Management Global Consulting Solutions Pvt. Ltd is in the business of Payroll, Outsourcing and Regulatory Compliances from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing On-boarding, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
In the earlier instance, Cognizant has experienced an attrition rate of 6 percent by the end of September in the quarter of the fiscal year 2022. The attrition rates include the employees who have been handed pink slips due to failed background checks.
In the recent past concerning Amazon in Karnataka, Amazon India’s public policy manager had been summoned by the Labour Ministry following a complaint by the employee union Nascent Information Technology Employees Senate (NITES) alleging a violation of labour laws.
Karma Global does a lot of work on HR Services which includes grievance handling, layoffs, retrenchments, disputes and litigations.
Industrial dispute arises when employees and the employers fail to sort out their differences. Industrial dispute is always harmful to all persons associated with such industry as it affects all stakeholders, management, employees, economy, and society. The employers suffer losses in production, revenue, profits and even sickness of the plants; whereas the employees may suffer due to loss of wages and even jobs. Since industries are the pillars to economic growth, any dispute is detrimental to the rate of growth of the economy which ultimately affects the whole society. Therefore, Industrial Disputes Act, 1947 provides machinery to resolve such disputes by following ways:
- Collective Bargaining
- Grievance Redressed
- Arbitration
- Conciliation
- Adjudication
Subject: Amazon layoffs expected to mount to 20,000, includes top managers: Report
For greater details, appended below is the complete news item
Amazon layoffs expected to mount to 20,000, includes top managers: Report
Twenty thousand employees are the equivalent of about 6 percent of corporate staff, and about 1.3 percent of Amazon’s total 1.5 million-strong workforce including global distribution centre and hourly workers.
Amazon plans to lay off as many as 20,000 employees in the coming months, including distribution centre workers, technology staff and corporate executives as the retail and cloud computing giant retrenches after going on a hiring spree during the pandemic, according to a report by Computerworld.
Amazon employees are ranked from level 1 to level 7, and staff at all levels will likely be affected, according to sources with direct knowledge of the matter, who spoke with Computerworld
NYT first reported in mid-November that Amazon would enact mass layoffs, and as many as 10,000 people would be sacked.
Company managers over the last few days, however, have been told that they should try to identify work performance problems among employees, as part of an effort to lay off about 20,000 people, according to the report.
Twenty thousand employees are the equivalent of about 6 percent of corporate staff, and about 1.3 percent of Amazon’s total 1.5 million-strong workforce including global distribution centre and hourly workers.
Corporate staff have been told that employees will receive a 24-hour notice and severance pay, in accordance with their company contracts, the report added. “There is a sense of fear among employees in the company as the news has come out,” one of the sources told Computerworld, who was informed directly about the layoff effort.
The layoffs would be the largest staff reduction in the company’s history.