But the figure of retrenchment is not limited only to Amazon, but even before this many giant companies have shown the way out to their employees. These companies include names like Microsoft, Meta, Twitter, Netflix, Tesla. Indian companies are also not untouched by this. While 15,000 employees have been fired from Indian startups so far, study platform BYJUS is planning to lay off around 2,500 employees by March 2023. If we talk about the global platform, then Meta has cut 11,000 employees, about 1,000 employees in Microsoft, about 450 jobs in Netflix, while Amazon is now planning to lay off 10,000 employees.
Many global economic conditions are responsible
These figures are very scary, but the question arises that what is the reason behind the retrenchment of such a large number of employees. Let us discuss this also. According to experts, there are chances of recession all over the world and many countries have already come under its grip. Experts believe that economic growth has slowed down due to rising inflation, rising commodity prices and other global economic conditions due to the Russia-Ukraine war. Due to rising inflation, companies want to reduce expenses by cost cutting, that is why a large number of employees are being laid off.
In a situation like global recession, where almost every day the news of lay off of employees is coming from different corners of the world, their figures are also forcing us to think and questioning the job security. The world’s leading e-commerce company Amazon is planning to lay off about 10,000 employees this week. Yes, this figure is very big and if the company shows the way out to 10,000 employees, then it will be the biggest layoff in the history of Amazon.