Amazon Starts Firing Employees In India; Loses $30 Billion Over President Trump’s Remark!
Reports indicate that more such firings would happen very soon.
World’s largest e-commerce portal, and one of the two biggest in India: Amazon has started firing employees in India.
And this is not a good sign because confirmed reports indicate that more such firings would happen very soon.
Is President Trump the real reason behind this job loss in India?
Amazon: Yes, We Are Firing Employees In India
Amazon India has asked 60 employees from their recruitment department to put in their papers and resign. These 60 employees were based mainly in Bengaluru.
In the December quarter, Amazon placed 25% more employees in the performance improvement plans (PIPs), compared to last year. And, this means that there can be more firing in coming days.
Interestingly, the employees were fired immediately after appraisals were announced.
Amazon has confirmed this development, as they said,
“As a global organisation, we have recognised the need to organise our teams to keep us agile and help us use our resources optimally. This has impacted a small number of roles within the company and we are providing complete support to the impacted employees, including the option of relevant internal postings and outplacement services.”
However, Amazon confirmed that there are 4000 job roles for which, recruitment drive is still on.
President Trump’s Remark Has Hurt Amazon?
US President Trump recently made a negative remark against Amazon, which has proved to be disastrous for the company. In the last week, Amazon lost over $30 billion in stock value, after President Trump said that Amazon is killing the local economy of US.
In a series of Tweets, President Trump said that Amazon’s presence is bad for the US.
His Tweets:
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!
— Donald J. Trump (@realDonaldTrump) March 29, 2018
While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that…
— Donald J. Trump (@realDonaldTrump) March 31, 2018
…does not include the Fake Washington Post, which is used as a “lobbyist” and should so REGISTER. If the P.O. “increased its parcel rates, Amazon’s shipping costs would rise by $2.6 Billion.” This Post Office scam must stop. Amazon must pay real costs (and taxes) now!
— Donald J. Trump (@realDonaldTrump) March 31, 2018
Amazon Founder Jeff Bezos, who is World’s 2nd richest person now, saw his wealth tumble, as Trump’s tweets forced investors to sell their shares.
As a result, the company saw $30 billion worth of stock value erode, in just few days. On March 26th, Jeff’s total wealth was $130 billion, which was reduced to $114 billion after a week, due to Trump’s remarks.
However, connecting the firing activity in India with President Trump’s remarks would be stretched. In fact, this so called ‘restructructing of workforce’ within Amazon started in February this year itself, and it seems that the wave just reached India.
Daniel Ives, chief strategy officer at New York-based market research firm GBH Insights said,
“This is part of a global reorganisation as Amazon and (CEO Jeff) Bezos look to strategically deploy resources into high-growth and priority areas to further drive the consumer flywheel over the coming years,”
Do you think Amazon will fire more employees in India? Do share your opinions by commenting right here!
