(Image source from: Businesstoday.in)
Top tech giant Amazon has asked the Indian employees to submit their resignations voluntarily and leave the organization with monetary benefits. More than 10,000 employees are fired by Amazon this week and there are more layoffs expected in the coming future. Several Indian employees are now in plans for Voluntary Separation Program (VSP) after Amazon asked them to resign voluntarily before the company terminates their contracts. Some of the Indian employees who worked in L1 to L7 band in the Experience and Technology team of Amazon received a note that they are eligible for Voluntary Separation Program. All those who sign for VSP, they will have to sign it before November 30th.
All those who will sign before the date will be eligible for the monetary benefits. “Pursuant to the VSP, eligible employees will have the opportunity to resign voluntarily from employment in exchange for the VSP benefits. Please remember that all Application Forms to participate in the VSP must be received via Smart forms no later than 6:30 a.m. India Standard Time on November 30, 2022,” told the statement of the internal document of Amazon. All those who will sign the VSP will be eligible to get 22 weeks base pay along with one week base salary for every six months of service. This would be a maximum of upto twenty weeks paid severance. The employees will be eligiblee for medical insurance coverage for six months as per the Insurance Benefit policy or an equivalent premium. All the employees who are in Performance Improvement Programs (PIP) will not be eligible for VSP.