Google To Layoff 6% Of Its Work Force
Jan 20, 2023 By MarketDepth
Google (GOOG:NASD) has made the hard decision to cut 6% or 12,000 of its staff as growth stalls. As the tech sector comes to terms with the state of the world layoffs in the tech sector are coming from many large cap companies. Many companies saw massive growth over the pandemic and went on a hiring spree are now seeing those sectors scaled back.
Companies are also shifting gears and putting their focus in the AI sector as investments in the technology is exploding. The layoffs come in all sectors of the company the same week as Microsoft announced laying off 10,000 employees.
“To match and fuel that growth, we hired for a different economic reality than the one we face today.”Sundar Pichai, chief executive of parent firm Alphabet said in an email
The company has already notified those employees affected by the layoffs and has extended after-job support to help them transition. As these big tech companies start to navigate they don’t expect the layoffs to subside until they’re in a stronger position.