Skip to content
Stock Focus Report

Stock Focus Report

Primary Menu
  • Home
  • Business
  • Economy
  • Domestic
  • Money
  • Politics
  • Top News
  • Newsletters
  • Home
  • 2024
  • November
  • 5
  • Amazon CEO denies full in-office mandate is ‘backdoor layoff’
  • Uncategorized

Amazon CEO denies full in-office mandate is ‘backdoor layoff’

Stock Focus Report November 5, 2024
2024-11-05T202610Z_3_LYNXMPEKA40TC_RTROPTP_4_AMAZON-RETURN-TO-WORK

By Greg Bensinger

(Reuters) -Amazon CEO Andy Jassy said at an all-hands meeting on Tuesday that the plan to require employees to be in-office five days per week is not meant to force attrition or satisfy city leaders, as many employees have suggested.

The controversial plan mandating workers come to Amazon offices every day starting next year, up from three days now, has caused consternation among employees who say it is stricter than other tech companies and will hinder efficiency because of commuting times.

Workers who are consistently not in compliance have been told they will be “voluntarily resigning” and locked out of company computers.

“A number of people I’ve seen theorized that the reason we were doing this is, it’s a backdoor layoff, or we made some sort of deal with city or cities,” said Jassy, according to a transcript of the meeting reviewed by Reuters.

“I can tell you both of those are not true. You know, this was not a cost play for us. This is very much about our culture and strengthening our culture,” he said.

An Amazon spokesperson declined to comment.

Last month Matt Garman, the CEO of cloud computing unit Amazon Web Services, suggested that workers who did not want to comply with the full in-office requirement could leave for another company and said that nine of 10 employees he had spoken with supported the change.

That prompted a letter signed by more than 500 Amazon employees imploring Garman to revise the policy, noting the company had operated well fully remote and that the new rule would impact employees with families or medical challenges more than others.

“We were appalled to hear the non-data-driven explanation you gave for Amazon imposing a five-day in-office mandate,” according to the letter.

Amazon said in response at the time that it is providing commuter benefits and subsidized parking rates, among other things, to help with its return-to-office policy.

“It is an adjustment,” said Jassy on Tuesday. “I understand that for a lot of people, and we’re going to be working through that adjustment together.”

Jassy added that an internal system for reporting excess bureaucracy was working well and that out of around 500 emails received, the company had taken action on around 150 of them, without providing detail.

“I hate bureaucracy,” he said. “One of the reasons I’m still at this company is because it’s not a political, bureaucratic place.”

Amazon last month reported a record $15.3 billion profit for its third quarter and said it expected a strong holiday quarter. The five-day in-office mandate begins on Jan. 2.

(Reporting by Greg Bensinger; Editing by Sandra Maler)


Continue Reading

Previous: Apple set to face fine under EU’s landmark Digital Markets Act, sources say
Next: Blackstone Real Estate to take Retail Opportunity private in $4 billion deal

Related Stories

  • Uncategorized

Hidden Gem’s – Tomorrow’s Market Secrets – Delivered Today

Stock Focus Report May 15, 2025
  • Uncategorized

[Expiring Soon] 72-Hour Market Playbook: April 30–May 3

Stock Focus Report April 28, 2025
2025-03-20T180704Z_1_LYNXMPEL2J116_RTROPTP_4_WIZ-M-A-ALPHABET
  • Uncategorized

Trump trade upheaval leaves foreign central banks guessing

Stock Focus Report March 20, 2025

Recent Posts

  • Musk criticizes Trump tax bill: can’t be both big and beautiful
  • Cantor Fitzgerald to acquire UBS hedge fund unit, expanding alternative assets
  • US to issue visa bans for foreign nationals who ‘censor’ Americans, Rubio says
  • Musk criticizes Trump tax bill: can’t be both big and beautiful
  • US senator calls for AI competition in Pentagon contracting

Categories

  • Business
  • Domestic
  • Economy
  • Money
  • Newsletters
  • Politics
  • Top News
  • Uncategorized

You may have missed

  • Newsletters

Musk criticizes Trump tax bill: can’t be both big and beautiful

Stock Focus Report May 28, 2025
2025-05-28T145019Z_1_LYNXNPEL4R0T2_RTROPTP_4_UBS-GROUP-FOREX
  • Business

Cantor Fitzgerald to acquire UBS hedge fund unit, expanding alternative assets

Stock Focus Report May 28, 2025
2025-05-28T154023Z_2_LYNXNPEL4R0VL_RTROPTP_4_USA-DIPLOMACY-RUBIO

US to issue visa bans for foreign nationals who ‘censor’ Americans, Rubio says

Stock Focus Report May 28, 2025
2025-05-28T143911Z_1_LYNXNPEL4R0SP_RTROPTP_4_USA-CONGRESS-TAX-MUSK

Musk criticizes Trump tax bill: can’t be both big and beautiful

Stock Focus Report May 28, 2025
  • Home
  • Privacy Policy
  • Terms of Service/Use Agreement
  • Disclaimer
  • Contact Us
Copyright © All rights reserved. | MoreNews by AF themes.