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The world nations are fearing the global recession which is believed to be in the early stage. Based on the current developments, the experts predict that the recession might get even worse and the world would face its wrath in the coming days. The western nations already started facing the impact of recession with the global companies laying off employees.
India too faced the impact as the start-up sector saw employees getting laid off. Following the list of western nations, the Indian start-up sector got affected. Due to the recession, the IT sector got affected severely.
Given the bigger economies, the western nations have a bigger threat and the same is happening now. Mostly, the superpower nation United States is facing the heat. The companies irrespective of their sizes are laying off employees. The tech giants like Google and others are also asking employees to be strong in the crisis.
A few days back, Google Chief Executive Officer Sundar Pichai spoke to the employees and left them stunned by dropping the truth bomb about the laying off process/ Now another company joined the list.
E-commerce giant Amazon, founded by one of the richest persons in the world Jeff Bezos also focused on laying off employees. The company decided to remove as many as one lakh employees working in various sectors in the company. The employees will be served with pink slips soon and they have to focus on the job hunt.
In a recent meeting, Amazon chief financial officer Brian Olsavsky said that going by the current circumstances, the company decided to remove the employees and the hiring process will also take some time to get started.
Saying that the company has been hiring employees in big numbers every year, the chief financial officer of Amazon observed that this might not happen this year and also said that the company has no option left other than laying off the employees.
Big companies like Netflix and others already started the process of laying off employees due to the recession. Looks like the e-commerce giant Amazon is also not an exemption to this.