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Business News/ Companies / News/  From Google to Amazon, tech giants offer 1-year salary to encourage resignation
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From Google to Amazon, tech giants offer 1-year salary to encourage resignation

As many as 570 big tech companies have laid off 168,918 staff this year so far

Google workers hold signs, including a reference to the company's 'Don't be evil' code of conduct phrase, at a demonstration against layoffs in London (REUTERS)Premium
Google workers hold signs, including a reference to the company's 'Don't be evil' code of conduct phrase, at a demonstration against layoffs in London (REUTERS)

Silicon Valley's tech giants have continued shredding staff. From Meta to Amazon, 570 big tech companies have laid off 168,918 staff this year so far, according to Layoffs.fyi, a website that tracks such announcements.

While the layoffs have happened globally, some tech giants are struggling to let people go in European countries.

In some European countries, the firms cannot just fire staff without discussing the matter with "employee interest globally".

As per their law, "companies are legally required to consult with these councils before executing layoffs, which involves a potentially time-consuming process of data collection, discussions, and the option of appealing".

Henceforth, Google is seeking help from these groups in France and Germany to resolve the layoffs issues.

Alphabet Inc, Google's parent company has reportedly asked employees to resign voluntarily and get good severance packages in return in France.

Besides, Amazon Inc is also offering a severance package of one-year pay to some senior managers with 5-8 years of experience if they resign voluntarily. The e-commerce giant is also offering, "leave to departing employees so their shares can vest and be paid out as bonuses".

In Germany also Amazon is firing employees who are on their probationary periods and offering them an option to resign voluntarily.

Separately, Google is planning to cut 500 of its workforce in the UK. These employees will be offered confidential severance packages.

Last week, Amazon.com Inc. laid off about 100 employees in its video-game divisions as part of its broader cutbacks, affecting workers at Prime Gaming, Game Growth, and the company’s San Diego studio.

Amazon has struggled to capitalise on its resources in gaming, including through its Crown channel, an entertainment show on the Twitch streaming service. Twitch recently cut about 400 positions. The company has canceled and even removed titles from sale since the division kicked off in 2012.

Amazon Game Studios boss Mike Frazzini, stepped down last year. Veteran gaming executive John Smedley, who helped run the San Diego office, announced plans to leave in January.

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Published: 11 Apr 2023, 07:31 AM IST
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