While many businesses have been struggling to survive, Amazon’s profits have been soaring.
In July, the online retailer posted the biggest profit in its 26-year history, with a revenue of US$88.9 billion (S$122 billion) reported, up 40% from the previous year.
This could be due to the surge in delivery orders as the coronavirus keeps people in their homes, but it’s likely because of the sudden and very high demand for toilet paper.
Despite its success, Amazon, just like Covid-19, has showed no signs of slowing down.
Amazon Rumoured To Be Taking Over 3 Levels Of Citigroup’s Office Space in S’pore
Rumour has it that Amazon is coming to town, and they’re planning to take over three floors of Citigroup’s office space.
According to a Bloomberg report, the online retailer plans to lease three floors covering about 90,000 sq ft at Asia Square Tower 1.
Those in the know have told Bloomberg that staff members will move into the new offices early next year.
The company’s plans, however, have not been made public, and may not be concrete yet.
But if they do go through with the move, what will happen to Citigroup?
Cutting Costs
The financial services company, which currently leases 9 floors of the building, says it aims to cut down its office space as its 10-year lease is due to expire soon.
Moreover, with much of their staff working at home, the company is looking to better utilise its real estate in an effort to cut costs.
This means that the affected workers will have to relocate to Changi Business Park, where the bank has bigger premises and a long-term lease.
Citigroup is also reviewing its workspaces and exploring other ways of working.
200 Job Openings
Meanwhile, Bloomberg believes this move by Amazon is a response to their Chinese tech rivals, who have also expanded their business operations to Singapore.
Whatever the reason, it spells good news for Singapore residents.
On its career site, the company has listed around 200 job openings in the country for positions covering data analytics, sales and advertising, business development, and marketing and public relations.
Amazon already has existing offices in Capital Square and One George Street, but a spokesperson declined to comment on whether it’s opening up a new office space.
Similarly, Citigroup confirmed that it is giving up the space, but declined to name the tenant taking over.
Now, while it may sound like a good opportunity, is Amazon really a good place to work?
Amazon Stories
Over the years, horror stories have emerged from former workers who’ve complained about the company’s cutthroat working environment and harsh tactics.
There’s a reason why that Hello Kitty bedsheet you ordered arrived so quickly.
According to The Verge, Amazon employees say the company tries to squeeze everything it can out of its employees, and often lets them go after they’re burnt out.
Employees are also routinely ranked, and managers are forced to fire a certain amount of the lowest-scoring workers every time to fulfill quotas.
According to one undercover investigator, some workers even peed in bottles because they feared being disciplined over ‘idle time’ and losing their jobs just because they needed to use the toilet.
Fortunately, here at Goody Feed, our boss allows us to use the toilet once a week, because he’s got a good heart.
Boss: I’m just one of those bosses who really cares about his employees
There were also several cases where workers who were sick or grieving were pushed out of the company.
Their offices in Singapore may have an entirely different working environment, sure. But working for them would mean supporting a company that seems to prize efficiency over the safety and well-being of its employees.
Boss: Not everyone can be like me, huh?
You’re certainly right about that, boss.
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