(ORDO NEWS) — Google and Amazon are offering severance packages to their employees in Europe to encourage voluntary layoffs and cut staff costs.
These benefits may include various bonuses and compensations, such as cash bonuses, insurance, and professional counseling.
Google and Amazon have announced thousands of layoffs in recent months, but now the tech giants are going to great lengths to cut headcount.
The European divisions of the tech giants are offering generous severance packages – up to a year’s salary – to force employees to voluntarily resign instead of following lengthy labor law procedures, according to Bloomberg.
Tech giants are struggling to lay off staff in Europe, especially in France and Germany, as labor laws are very strict in these countries and there are many restrictions on carrying out mass layoffs.
For example, under EU law, companies wishing to lay off more than 10% of their employees must give 30 days’ notice.
Companies are now reportedly offering generous layoff packages to encourage employees to leave voluntarily.
Bloomberg reported that Amazon France has offered senior managers with five to eight years of experience a payout of up to a year’s leave.
In Germany, Amazon is laying off workers on probation and offering the option to voluntarily quit.
These measures are reportedly being taken as companies are facing financial hardship caused by the COVID-19 pandemic and are trying to find ways to cut staff costs without laying off staff.
Voluntary retirement packages are one such way.
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