Google parent Alphabet Inc. announced that it would cut approximately 12,000 jobs. This is more than 6% of the global workforce and makes Inc. the latest technology giant. to After years of high growth and employment, it is time to retrench.
Globally, the cuts will impact jobs across all companies. Chief Executive Officer Sundar Pichai Tell employees in This article is available in English email On Friday, he wrote that takes “full responsibility for the decisions that led us here.”
Google is joining the ranks of those affected by layoffs host Other tech companies have also drastically reduced their operations in the face of a weakening economy and rising inflation. Meta Platforms Inc. has slashed its ranks as have Twitter Inc. and Amazon.com Inc. Many thanks to Google, a search company that has been resilient to change, is one of the most successful tech companies in avoiding significant workforce cuts. The company now faces a slowdown in Continued digital advertising, as well as its cloud-computing unit to Follow Amazon.com and Microsoft Corp.
“These are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities,” Pichai Submitted in The email.
According to him, the company had a “substantial opportunity in front of us” Google faces a boom in investment in artificial intelligence (an area of key importance for Google). in Recent competition
In October, earnings and revenue were reported by the company. missed analyst expectations. Profit declined 27% to Compare $13.9 Billion to Prior year The following information was available at the time: Pichai Google claimed it will reduce expenses. Ruth Porat Chief Financial Officer stated that there would be a reduction in the number new jobs. in The fourth quarter was different from the preceding period.
Google’s reduction in Investor pressure results in increased headcount to Adopt a bolder strategy to Stop spending. In November, TCI Fund Management Ltd. urged the internet search giant in Open letter to Publicly set a profit margin target, raise share buybacks, and decrease losses in Its portfolio of Other Bets Alphabet’s moonshot division. “The company has too many employees and the cost per employee is too high,” Chris Hohn, TCI’s Managing Director stated that Alphabet’s headcount had swelled 20% per year since 2017.
According to the human-resources consulting firm Challenger, Gray & Christmas Inc., the most job cuts in 2022 were in the tech sector — 97,171 for the year, up 649% compared to This is the same as in the past year.
Google took a number of cost-cutting steps in Recent months saw the company cancel its next-generation Pixelbook laptop. permanently shuttering StadiaIts cloud gaming service is. You can also visit their cloud gaming service. in January, Verily, is a biotech company of Alphabet, said it was cutting 15% staff.
Pichai Alphabet Employees affected would receive 16 weeks of severance payment and six months’ worth of benefits in the form of health insurance. in Other regions receive packages according to local laws and practices.
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