Trouble In Tech Paradise: Amazon postpones joining of several college hires from IIT, IIM
Trouble In Tech Paradise: Amazon postpones joining of several college hires from IIT, IIM
Following some significant layoffs, probably in the history of tech businesses, Amazon has now delayed the joining dates of several people hired from prestigious Indian institutes, such as IITs and IMs, reveals a report by Business Today. The company recently let go of nearly 9,000 employees, adding to the 18,000 previously dismissed this year.
Amazon has been addressing overhiring concerns and is now focusing on cost reduction and revenue growth.
In response to the deferrals, Amazon issued a statement explaining that start dates for some college hires will be postponed by up to six months due to challenging economic conditions.
“In light of the challenging economic conditions, we’re delaying the start dates for some of our college hires by up to six months. We’re offering assistance to help address any financial impact. Amazon remains committed to university recruiting and developing the next generation of leaders and builders.”
The company also assured assistance to mitigate any financial impact. Amazon reiterates its commitment to university recruiting and nurturing the next generation of leaders and innovators.
Also read: Amazon begins its largest-ever layoffs, 18,000 people to be hit
An IIT Bombay graduate shared his experience, stating that he was originally hired as a Software Development Engineer (SDE-1) with a salary of around Rs 30 LPA. However, he received an email from HR informing him that his offer had been deferred until January. He noted that this situation extended across IITs, with many of his fellow interns also facing deferred offer letters.
The IIT graduate expressed concerns about being without a job for such a lengthy period and mentioned his intention to explore alternative opportunities. He emphasized the potential negative impact on his professional profile and disclosed that he had already begun networking with alumni and seeking other job prospects.
Similarly, individuals from NITs informed the publication that their offer letters had been deferred, and some had even been revoked, according to a placement cell coordinator from an NIT.
Last week, Amazon conducted another round of layoffs affecting approximately 500 employees across various departments in India. This downsizing initiative aligns with the broader workforce reduction plans announced by CEO Andy Jassy in March, which impacted around 9,000 individuals. Notably, Amazon joins other prominent tech companies like Meta and Google in streamlining their employee numbers in recent times.
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