VSP : Amazon has asked some of its Indian employees to voluntarily resign and get monetary compensation. Amazon let off roughly 10,000 individuals this week, and more layoffs are planned in the future.
According to reports, numerous Indian employees are considering a Voluntary Separation Program (VSP). VSP would allow them to retire willingly rather than having their contract terminated by the company. According to sources, some Indian employees in Amazon’s Experience and Technology team who work in the L1 to L7 band have received a message stating that they are eligible for the company’s Voluntary Separation Program.
Employees that sign up for the VSP must do so by November 30 of this year. They will also be eligible for monetary advantages if they sign before the specified date. “According to the this, eligible employees will have the option to voluntarily leave from their jobs in exchange for VSP benefits.”
More on VSP
Please keep in mind that all Application Forms for VSP participation must be received via Smart forms by 6:30 a.m. “On November 30, 2022, India Standard Time,” the internal paper states.
Employees who sign the VSP are eligible for up to 22 weeks of base pay, plus one-week base salary for every six months of service (rounded to the nearest 6 months), up to maximum benefit of twenty weeks paid severance. In addition, employees are entitled to 6 months of medical insurance coverage under an Insurance Benefit policy or an equivalent insurance premium amount in place. Employees enrolled in performance improvement programs (PIP) are ineligible for VSP as well.
Amazon stated on Wednesday that it is laying off thousands of employees across divisions. Amazon’s Senior Vice President, David Limp, announced in an email to staff that the company is merging teams. He also stated that some positions in the organization are no longer needed. The corporation is reducing its employees in order to save money.
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