Google lays off hundreds of employees to cut down expenses

Google has laid off hundreds of global recruiters from the company, this Wednesday. This marks the first layoff from a “tech giant” this quarter.

Google’s attorney Eric Mahr told the judge that the agency filed a “complaint that lines up very closely” with allegations that Kanter made on behalf of his clients in private practice
Google’s attorney Eric Mahr told the judge that the agency filed a “complaint that lines up very closely” with allegations that Kanter made on behalf of his clients in private practice

Google parent Alphabet Inc. laid off hundreds of employees from its global recruiting team on Wednesday. This comes as an attempt by the tech giant to slow the hiring process.

Notably, Alphabet Inc. is the first “tech giant” to lay off employees this quarter. Others like Meta Inc, Microsoft Corp, and Amazon Inc processed the layoffs aggressively during early 2023. 

It slashed about 6 per cent of workforce in January, which amounts to 12,000 jobs. The move in January marked Google’s first “major” layoff in the company’s history. NY Times reported that the company has 181,798 employees, as of June 30. 

Also Read | ChatGPT hype over? OpenAI’s popular chatbot sees monthly website visits decline three months in a row

Employees who were laid off react on LinkedIn

Several employees who were laid on Wednesday took to LinkedIn to share their feelings. Among them, many noted how Google had always been a dream company to them. They worked for it, worked hard for it, however, eventually, it has come to an end.

Google lays off hundreds of employees to cut down expenses
Google CEO Sundar Pichai. Credit: Reuters

All stories have two sides

While Alphabet Inc. will attempt to recover the economy from this move and it is fair on the side of the company to avoid losses to keep the business running, the employees working at the tech giant have lost their job in the blink of an eye. And, thus, they are on another job hunt. 

In the aftermath of previous layoffs, Google has shifted its attention to developing its own A.I. to rival competitors, and it is simply costly. Most products have been updated with this technology and even introduced the chatbot, Bard, to compete with the likes of OpenAI’s ChatGPT. 

Alphabet’s President and Chief Investment Officer Ruth Porat said in July that the company is committed to reorganising expenses to make room for investments that yield the highest returns.

Follow FE Tech Bytes on TwitterInstagramLinkedInFacebook.

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

This article was first uploaded on September fourteen, twenty twenty-three, at twenty minutes past eleven in the morning.
Market Data
Market Data