Google is one of the most well-known and famous companies in the world. Recently, Alphabet, parent holding company of Google, has announced that it’s cutting around 6% of its global workforce. According to The Wall Street Journal, this move is meant toonelimit expenses and improve overall profitability for Alphabet. Although this may seem like a small number, it could have a significant impact on many employees
In a letter to employees, Sundar Pichai noted that Google has “hired for a different economic reality” than what it’s up against today, as the world curtails its spending due to economic headwinds. The company said it had bolstered its workforce during the pandemic-driven digital boom times but is now having to reverse course due to a slowing economy.
Pichai’s statement confirms that Google intends to restructure itself in order to better focus on its most important goals. Several job cuts have already been made, and this is only the beginning. It is likely that more changes will be coming as the company searches for ways to become even more powerful and influential.
Apple, the last of the big five U.S. tech companies to announce layoffs, may soon be following in the footsteps of its counterparts and announcing cuts in its workforce. The news indicates that four out of the five “big tech” firms have now announced significant redundancies in the past few months, with Apple the only one not to announce layoffs as of yet. This suggests that layoffs are increasingly becoming a reality for Silicon Valley companies, with more expected to follow as competition intensifies and economies head south once again across much of the world.
The trend of large tech companies layoffs is not new, but the scale at which they are happening is warranted attention. Each company has its own business and goals, but it seems that Amazon and Microsoft have been particularly aggressive in cutting jobs. The 10,000 job cuts announced by Microsoft represents 5% of its global workforce – a sizable chunk. Meanwhile, Facebook’s parent company Meta revealed 11,000 layoffs back in November, hitting 13% of its workforce. These cuts demonstrate how quickly these companies can trim their fat when necessary – good news for employee morale but bad news for those looking to work at these companies in the future.
Reuters reports that Alphabet, the company formerly known as Google, today announced it is eliminating 12,000 jobs worldwide. Since its establishment in Stanford Computer Science professor Larry Page and Sergey Brin’s garage in 2002, Alphabet has grown into one of the world’s largest technology companies. Initially focused on internet search and advertising, the company has since expanded into various other sectors such as self-driving cars and video streaming. However, with exponential growth comes a corresponding increase in global competition. This latest round of layoffs marks the sixth time Alphabet has eliminated a number of positions globally over the past three years. With continued pressure from disruptive new competitors like Facebook and Amazon, it remains to be seen how well Alphabet can weather these challenges.
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