Resign voluntarily, leave with monetary benefits: Amazon reportedly tells Indian employees
As per reports, several Indian employees plan for Voluntary Separation Program (VSP), asking them to resign voluntarily instead of the company terminating their contract. If the employees sign the VSP, they are eligible to get up to 22 weeks Base Pay, plus one-week base salary for every six months of service up to a maximum benefit of twenty weeks paid severance.
Some of Amazon's Indian employees have been asked to quit on their own will and get compensation. This week, Amazon laid off roughly 10,000 workers, and more layoffs are anticipated in the coming months. According to reports, a number of Indian employees want to use the Voluntary Separation Program (VSP), which asks them to leave on their own own as opposed to the firm terminating their employment.
According to sources, certain Indian workers who work for Amazon's Experience and Technology team in the L1 to L7 band have gotten a memo stating that they qualify for the company's voluntary separation programme. Employees must enrol in the VSP by November 30 of this year if they choose to do so. They will also be qualified to get financial benefits if they sign before the specified deadline.
Reports suggest that in accordance with the VSP, qualified employees will have the option to voluntarily leave their jobs in return for the VSP benefits. As per the internal memo, "Please keep in mind that all application forms for the VSP must be submitted via Smart Forms no later than 6:30 a.m. India Standard Time on November 30, 2022."
If the workers sign the VSP, they are entitled for up to twenty weeks of paid severance, up to a maximum benefit of twenty weeks base pay, plus one week of base pay for every six months of service (rounded to the nearest six months). Additionally, as per an insurance benefit policy, employees are also entitled to medical insurance coverage for a period of six months, or an equivalent insurance premium payment in its place. Employees in performance improvement programs (PIP) are also not eligible for VSP.
On Wednesday, Amazon officially announced that it is letting go of thousands of employees across all divisions. David Limp, senior vice president at Amazon, informed the staff through email that teams are being merged. He also disclosed that several positions in the organisation were no longer necessary. The business is reducing the personnel in order to save costs.