Amazon Lays Off 500 Employees in India, Vodafone to Reduce its Global Workforce by 11,000
New Delhi: Amazon is undergoing a round of layoffs in India, terminating at least 500 employees across different areas. This is the second wave of job cuts announced by the e-commerce giant earlier this year. The layoffs impact various departments, including Amazon Web Services (AWS), human resources, and support functions.
One affected individual, a senior product compliance associate based in Amazon's Bengaluru office, recently lost her job, and she is still grappling with a range of emotions, such as grief, anger, and uncertainty.
Coming to terms with the sudden loss of employment, she expresses her struggle in processing the reality of unemployment.
"I'm grieving the loss of my job, the relationships I built with my colleagues and the sense of purpose I felt in my work," she wrote in a poignant LinkedIn post.
"I'm also angry at the situation, and I'm feeling uncertain about what the future holds."
“I know that I'm not alone in this experience. Many people are laid off every year, and it's a difficult time. I'm grateful for the support of my friends and family, and I'm confident that I'll get through this,” she further wrote.
In March, Amazon announced its second round of layoffs involving 9,000 job cuts. In a memo to employees, Amazon CEO Andy Jassy described it as a difficult decision considering the company's long-term benefits. These layoffs are in addition to the 18,000 roles eliminated a few months ago.
This wave of job cuts reflects a broader trend of major global technology companies reducing their workforce. Over the past six months, thousands of people worldwide have lost their jobs. Companies such as Amazon, Google, Microsoft, Meta (formerly Facebook), Twitter, and Goldman Sachs have laid off employees or frozen hiring. This is primarily due to sluggish consumer spending, higher interest rates, and rising global inflation.
Vodafone to slash workforce
In a parallel development, Vodafone, the major telecommunications company based in the UK, has recently unveiled its plan to reduce its global workforce by 11,000 employees within the next three years.
This decision comes in response to the company's declining share price, reaching its lowest point in two decades. Vodafone aims to restructure its operations to strengthen its competitive position and improve the overall experience for its customers.
The layoffs are a part of Vodafone's larger cost-saving strategy, aiming to achieve savings of 1 billion euros as initially announced in November 2022. The newly appointed CEO, Margherita Della Valle, envisions a more streamlined and efficient organization with enhanced flexibility and allocation of resources.
"Today I am announcing my plans for Vodafone," said the former finance chief Della Valle of Vodafone, who was appointed CEO last month.
"Our performance has not been good enough. To consistently deliver, Vodafone must change."
Due to its underwhelming financial performance, Vodafone had anticipated the need to reduce its staff. The company reported a decline in group core earnings, amounting to 14.7 billion euros, for the fiscal year ending in March. Vodafone has faced challenges in the telecommunications industry, encountering intense competition from rivals like AT&T and Verizon in the United States and China Mobile and China Unicom in China. Rising costs and a slowdown in customer growth have also impacted the company's operations
Get the latest reports & analysis with people's perspective on Protests, movements & deep analytical videos, discussions of the current affairs in your Telegram app. Subscribe to NewsClick's Telegram channel & get Real-Time updates on stories, as they get published on our website.