IndiaCatalog.com
India News
Search Web Directory
News Home
Amazon India hands over pink slips to 60 employees, may fire more in future
Posted on 3rd April 2018
Amazon India has reportedly laid off its 60 employees over global restructuring. According to a report published in the Economic Times, citing sources, it said that Amazon India may future might handover pink slips to more of its staff.

Sources close to the development told the publication that the second person said there might be more layoffs across teams as the company put 25 per cent more employees on performance improvement plans (PIPs) in the December quarter as compared with a year earlier.

Confirming the layoffs, Amazon said that the entire process was a part of company's global procedure.

“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,” a company spokesperson told the newspaper, adding that Amazon continues to hire for multiple roles and currently has 4,000 job openings in the country, including several from previous years.

Meanwhile, shares of Amazon.com Inc fell 6% on Monday after US President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.

"Only fools, or worse, are saying that our money losing Post Office makes money with Amazon," Trump tweeted.

"They lose a fortune, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country...not a level playing field!"

Shares of the company were down 5.9% at $1,362.48, wiping out nearly $45 billion from its market value.

Trump has been vocal about his opposition to Amazon's use of the postal service and Monday's tweet adds to investor worries that the company could see more regulation.

Amazon did not immediately respond to requests for a comment.

On Saturday, Trump tweeted that if the post office "increased its parcel rates, Amazon's shipping costs would rise by $2.6 billion."

The US Postal Service (USPS) in November reported a decline in annual revenue, hurt by a drop in first-class and marketing mail, offset partly by an increase in package delivery.

Related Companies: Amazon India   

Other Latest News
Nirbhaya rape case: Convicts shifted to Tihar jail, likely to be hanged soon
Posted on 10th December 2019

The fourth convict in the Nirbhaya rape case has been shifted to Tihar Jail after one of the accused Pawan Kumar Gupta was moved from Mandoli jail in Delhi.

He is currently lodged in jail number 2 of Tihar, sources said. This has led to speculation that the four accused are likely to be hanged soon.


BJP confident Rajya Sabha will pass Citizenship Amendment Bill on Wednesday
Posted on 10th December 2019

The BJP is confident of the passage of the contentious Citizenship Amendment Bill in the Rajya Sabha which will be introduced in the upper house on Wednesday, sources said on Tuesday.

The bill piloted by Union Home Minister Amit Shah was comfortably passed in the Lok Sabha on late Monday night as the ruling BJP enjoys a clear majority in the house.


Supreme Court to hear petitions challenging abrogation of Article 370 today
Posted on 10th December 2019

The Supreme Court on Tuesday (today) will begin hearing on a batch of petitions challenging the constitutional validity of revocation of Article 370.

Article 370 guaranteed special status to the erstwhile state of Jammu and Kashmir which was abrogated by the Centre on August 5.

A five-judge bench comprising of Justices SK Kaul, R Subhash Reddy, BR Gavai and Surya Kant and headed by Justice NV Ramana will hear the case.


YES Bank hits 6-week low ahead of board meet; stock falls 24% in eight days
Posted on 10th December 2019

Shares of YES Bank declined 5 per cent to hit a six-week low of Rs 53.40 on the BSE ahead of the board meeting slated for later today to finalize and approve the details of the preferential allotment.

The stock of private sector lender was trading at its lowest level since October 29, 2019. In the past eight trading days, it has fallen 24 per cent, as compared to a 2 per cent decline in the S&P BSE Sensex.


PC Jeweller hits all-time low as CRISIL downgrade ratings to default grade
Posted on 10th December 2019
Shares of PC Jeweller continued to trade under pressure and slipped 5 per cent to hit a fresh all-time low level of Rs 23.50 on the BSE on Tuesday after rating agency CRISIL downgraded its long-term and short-term ratings to the company's bank loan facilities to CRISIL D. The instruments with this rating are in default or are expected to be in default soon, as per the rating agency.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Amazon India hands over pink slips to 60 employees, may fire more in future
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Amazon India hands over pink slips to 60 employees, may fire more in future

Most Read News

HDFC Bank sees signs of rural revival as wider economy remains sluggish

JSW Steel eyes to supply 1.5 lakh tonne to metro rail projects in FY20

Coca-Cola moves out of bottling ops in North India, to divest three plants

Punjab police to provide free pick up, drop to women post 9 PM, announces CM

Tariff hike will boost govt revenue, telcos' financial health, says COAI

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement