According to a recent report published by Bloomberg, Amazon, and Google, as well as some other big U.S. companies working in Europe, are finding it hard to cut jobs. The main reason is that EU labor laws are stricter than the ones in the U.S. and make large-scale layoffs a huge challenge.

The process of bigger job cuts in Europe can’t be completed without completing various steps, including talks and negotiations with employee councils. This means that going through with the layoffs will be much more laborious for tech companies than they envisioned.

Trying to overcome these problems, Amazon and Google have started offering incentives and generous severance packages to affected workers in an attempt to encourage them to leave their jobs voluntarily. For example, Amazon offered some senior managers “as much as one year’s pay,” among other benefits, to try and get them to leave.

“We have been working carefully and individually through each country where reductions are taking place to fully adhere to local legal requirements, which vary per location, are complex, and take time,” a Google spokesperson wrote in the mail when reached out by Bloomberg.

Amazon announced additional layoffs in March that will see the company trim its workforce by 9,000 employees. Google, on the other hand, announced in January that it would cut around 12,000 jobs. 

The post Amazon and Google Facing Obstacles in Conducting Planned Layoffs in Europe appeared first on theprimarymarket.com.

Back in November, Amazon had its first big round of layoffs, parting ways with 10,000 workers. This was followed by the exit of another 8,000 employees in early 2023. At the time, affected teams felt caught off guard by the actions, which is why the company has now decided to make an early announcement.

Reuters reports that the layoffs will affect teams involved in Amazon Web Services and other “advertising and cloud computing divisions” as well as the streaming platform Twitch. Around 400 Twitch employers will be laid off, according to a blog post published by Twitch CEO Dan Clancy.

“Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce,” Clancy wrote.

Amazon has made several other moves in 2023 to cut costs, including putting an end to some experimental projects and closing several of its cashierless Amazon Go stores. Eight stores in total are set to close in Seattle, San Francisco, and New York.

Amazon’s stock surged around 3 percent on Tuesday, trading at $100.66 before close hours. The company’s shares are 17 percent up year-to-date.

The post Amazon Doubles Down On Layoffs, Will Trim Its Workforce by Another 9,000 Employees appeared first on theprimarymarket.com.

According to a recent report published by Bloomberg, Amazon, and Google, as well as some other big U.S. companies working in Europe, are finding it hard to cut jobs. The main reason is that EU labor laws are stricter than the ones in the U.S. and make large-scale layoffs a huge challenge.

The process of bigger job cuts in Europe can’t be completed without completing various steps, including talks and negotiations with employee councils. This means that going through with the layoffs will be much more laborious for tech companies than they envisioned.

Trying to overcome these problems, Amazon and Google have started offering incentives and generous severance packages to affected workers in an attempt to encourage them to leave their jobs voluntarily. For example, Amazon offered some senior managers “as much as one year’s pay,” among other benefits, to try and get them to leave.

“We have been working carefully and individually through each country where reductions are taking place to fully adhere to local legal requirements, which vary per location, are complex, and take time,” a Google spokesperson wrote in the mail when reached out by Bloomberg.

Amazon announced additional layoffs in March that will see the company trim its workforce by 9,000 employees. Google, on the other hand, announced in January that it would cut around 12,000 jobs. 

The post Amazon and Google Facing Obstacles in Conducting Planned Layoffs in Europe appeared first on theprimarymarket.com.

Back in November, Amazon had its first big round of layoffs, parting ways with 10,000 workers. This was followed by the exit of another 8,000 employees in early 2023. At the time, affected teams felt caught off guard by the actions, which is why the company has now decided to make an early announcement.

Reuters reports that the layoffs will affect teams involved in Amazon Web Services and other “advertising and cloud computing divisions” as well as the streaming platform Twitch. Around 400 Twitch employers will be laid off, according to a blog post published by Twitch CEO Dan Clancy.

“Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce,” Clancy wrote.

Amazon has made several other moves in 2023 to cut costs, including putting an end to some experimental projects and closing several of its cashierless Amazon Go stores. Eight stores in total are set to close in Seattle, San Francisco, and New York.

Amazon’s stock surged around 3 percent on Tuesday, trading at $100.66 before close hours. The company’s shares are 17 percent up year-to-date.

The post Amazon Doubles Down On Layoffs, Will Trim Its Workforce by Another 9,000 Employees appeared first on theprimarymarket.com.