570 large tech companies have laid off 168,918 employees this year so far, and tech giants in Silicon Valley have continued laying off employees from Meta to Amazon and Google.
While layoffs have occurred globally, some tech giants are struggling to get their employees to quit in European countries. In some European countries, companies cannot dismiss employees without discussing the matter with local bodies and councils concerned with defending employee rights. Companies are legally required to consult with these boards before carrying out layoffs, which involves a potentially time-consuming process of data collection, discussions and the option to appeal.
Google is seeking help from these groups in France and Germany to solve layoffs. Alphabet Inc, Google's parent company, has reportedly asked employees to resign voluntarily and receive severance packages well in France.
Besides, Amazon is also offering a one-year severance package to some senior managers with 5 to 8 years of experience if they resign voluntarily. The e-commerce giant is also offering furlough to departing employees so that their shares can be invested and paid out as bonuses.
Okaz (New York) @OKAZ_online