Google plans to lay off employees as global economy reportedly worsens

Google LLC may lay off a significant number of employees amid deteriorating global economic conditions and several quarters of negative economic growth in the US

As The New York Post reported last week on Friday, Google will suspend hiring new employees and tell some existing employees to “shape up or shape up” if they fail to meet expectations. is said to have instructed These forecasts include financial numbers for Google’s parent company, Alphabet Inc., in its next earnings report due in October.

An unnamed employee told the Post he fears there will be significant layoffs. I was told that there would also be a “general overall examination”. The same employee also talks about possible layoffs if earnings reports are poor, resulting in “blood on the streets.”

Google and Microsoft were first reported to have scaled back their hiring efforts in July. At the time, it was reported that the hiring freeze would not affect jobs that had already been submitted. “We will use this time to review our staffing needs and meet new staffing requests he has prioritized over the next three months,” an internal memo said. The note may have been a foretaste of what was to come.

Google CEO Sundar Pichai also said in the same memo that the search engine giant plans to implement changes in other areas. “Sometimes it means consolidating overlapping investments and streamlining processes,” said Pichai. “Otherwise it means pausing development and redeploying resources to higher priority areas.”

Given the macroeconomic environment, it should come as no surprise that Google has slowed down or suspended all hiring. Microsoft is also in the process of “removing many jobs” across multiple business units, including its Azure public cloud division and cybersecurity software group.

Job cuts are also being seen at other major tech companies. It was also reported in July that Facebook Inc. employees expected about a 10% job cut, a report that Facebook denied.

The glory days of Big Tech and exponential growth that began around 2004-2005 may be coming to an end thanks to the COVID-19 pandemic and Russia’s invasion of Ukraine. there is.

Image: Google Cloud

Show your support for our mission by joining our expert Cube Club and Cube Events community. Join a community of celebrities and experts including Andy Jassy, ​​CEO of Amazon Web Services and, Michael Dell, Founder and CEO of Dell Technologies, Pat Gelsinger, CEO of Intel, and more .

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *