Google CEO Sundar Pichai said in an email to the staff of the corporation that many workers would be let go. It occurs after a combined 28,000 individuals were let go by Amazon and Microsoft. If you want to see the complete message Pichai distributed to staff stay continue reading on this page.
Did You Hear The News Of Google Layoffs 2023?
Reuters, 20 January – In response to “a changing economic reality,” Google parent Alphabet Inc (GOOGL.O) announced in a staff message that it is eliminating around 12,000 jobs, doubling focus on artificial intelligence (AI), and firing employees who support experimental initiatives. People from its workforce, adding to the numerous significant U.S. tech corporations laying off employees because of concerns about an impending recession.
The layoffs at tech behemoths including Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O), and Meta Platforms Inc (META.O), who are shrinking after a pandemic-driven hiring spree left them flabby in a poor economy, affect 6% of their staff.
The CEO of Google and its parent company Alphabet, Sundar Pichai, announced Friday that the business will start making layoffs in the United States right away. According to him, the procedure in other nations “will take longer due to local laws and procedures.” In November, CNBC reported that Google staff members had been anticipating layoffs due to company-wide budget cuts and modifications to the company’s performance evaluation process.
Good Morning Everyone! Layoffs announced YTD:
– Google: 12,000 (6% of workforce)
– Microsoft: 10,000 (5%)
– Salesforce: 8,000 (10%)
– Amazon: 8,000 (2%)
38,815 tech workers have been laid off in 2023 pic.twitter.com/dN1RCD8Phe
— Genevieve Roch-Decter, CFA (@GRDecter) January 20, 2023
According to Pichai, the web search and video-sharing giant would give employees in the United States 16 weeks of severance compensation in addition to two weeks for each subsequent year of employment.
Following the news, Google’s stock increased by more than 5%.
Tech companies are currently dealing with a number of difficulties, not the least of which are the recent increases in interest rates and inflation that have decimated technology shares and compelled advertisers to reduce online advertising spending.
The demand for American tech shares has decreased as a result of interest rate increases, particularly from the U.S. Federal Reserve. The bleak financial situation has in turn placed pressure on those corporations to make severe cuts to their workforces.
Amazon started a new round of layoffs on Wednesday that will affect more than 18,000 individuals. Microsoft announced plans to fire 10,000 employees the same day.
Elon Musk, who took over as CEO of Twitter in October, has likewise announced layoffs, reducing the company’s headcount by more than half.
Following CNBC’s news on Thursday that the company was delaying a portion of employees’ year-end bonus checks until March or April rather than paying them in full in January, Google announced its decision to lay off workers on Friday.
Read the entire note that Pichai on Friday distributed to staff:
I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 roles. We’ve already sent a separate email to employees in the US who are affected. In other countries, this process will take longer due to local laws and practices.
This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I’m deeply sorry for that. The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here.
Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.
I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI. To fully capture it, we’ll need to make tough choices. So, we’ve undertaken a rigorous review across product areas and functions to ensure that our people and roles are aligned with our highest priorities as a company. The roles we’re eliminating reflect the outcome of that review. They cut across Alphabet, product areas, functions, levels and regions.
To the Googlers who are leaving us: Thank you for working so hard to help people and businesses everywhere. Your contributions have been invaluable and we are grateful for them.
While this transition won’t be easy, we’re going to support employees as they look for their next opportunity.
In the US:
- We’ll pay employees during the full notification period (minimum 60 days).
- We’ll also offer a severance package starting at 16 weeks salary plus two weeks for every additional year at Google, and accelerate at least 16 weeks of GSU vesting.
- We’ll pay 2022 bonuses and remaining vacation time.
- We’ll be offering 6 months of healthcare, job placement services, and immigration support for those affected.
- Outside the US, we’ll support employees in line with local practices.
As an almost 25-year-old company, we’re bound to go through difficult economic cycles. These are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities.
Being constrained in some areas allows us to bet big on others. Pivoting the company to be AI-first years ago led to groundbreaking advances across our businesses and the whole industry.
Thanks to those early investments, Google’s products are better than ever. And we’re getting ready to share some entirely new experiences for users, developers and businesses, too. We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.
All this work is a continuation of the “healthy disregard for the impossible” that’s been core to our culture from the beginning. When I look around Google today, I see that same spirit and energy driving our efforts. That’s why I remain optimistic about our ability to deliver on our mission, even on our toughest days. Today is certainly one of them.
I’m sure you have many questions about how we’ll move forward. We’ll be organizing a town hall on Monday. Check your calendar for details. Until then, please take good care of yourselves as you absorb this difficult news. As part of that, if you are just starting your work day, please feel free to work from home today.
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