Cupertino:
The giant tech company Google announced large-scale layoffs. It has been reported to lay off 12,000 employees of Google’s parent company Alphabet Inc.
According to Google, the releases are being done globally.
Of these, the most significant impact will be on American workers.
On January 20, Google’s parent company Alphabet announced that it would lay off about 12,000 employees. That is, the company is cutting 6% of its global workforce.
Google CEO Sundar Pichai said via email that his sympathies are with the fired employees. He said “I take full responsibility for where we are at this moment.”
Apart from this, Sundar Pichai has also announced the help of the employees fired from the company.
Pichai said the company had hired during a period of significant growth in the last two years, but the economic conditions back then were different from today.
Company to help all Fired Employees
The employees who have been retrenched will get a 2022 bonus and the rest of the holiday money. Along with this, an additional salary of 60 days will be given.
The company said it would also offer a severance package starting at two weeks with 16 weeks of pay for each additional year at Google.
Also, six months of health facility, job placement services and other assistance will be offered to the fired employees.
Sundar Pichai sent a Memo Note
IN THE MEMO NOTE, alphabet CEO Sundar Pichai said, “Googlers, I have terrible news to share.” We have decided to reduce our workforce by 6%.
About 12,000 will be reduced. We have already sent a separate email to affected employees in the US.
It will mean saying goodbye to some incredibly talented people, people we worked hard to recruit and loved working with.
I am very sorry for this. I take full responsibility for the decisions that got us here. We’ve done fantastic work over the last two years and made great strides.
” Pichai says, “I can see the great opportunities ahead of us because of the strength of our mission, the value of our products and services, and our early investments in AI (artificial intelligence). I am confident of the opportunity.”
Effect of Global Recession
Explain that large tech companies have decided to lay off employees amidst the global economy and rising inflation. Recently Microsoft announced the layoff of 10,000 employees.
Amazon has also agreed to lay off about 18000 employees. About one thousand Indian employees are also included in these.
Meta Platforms Inc, Twitter, and Amazon.com Inc have downgraded their ranks.
Google has been one of the longest-running tech holdouts to have avoided significant workforce cuts.
But the company is facing a slump in digital advertising, and its cloud-computing division needs to catch up to Amazon and Microsoft Corp.
Layoffs in other companies as well
Here, many veteran Indian startup firms are also getting retrenched on a large scale. On Friday, online food delivery platform Swiggy said the company is laying off 380 employees as food delivery growth has come down.
Recently Byju laid off more than 1,100 people.
Apart from this, startup tech companies like Unacademy, Vedantu, Lido, Frontrow, and Lido have also shown the way out to thousands of employees.
Top Reasons for layoff
1) Tech companies made massive recruitments to meet the demand in the era of Kovid.
2) After the difficult period of Kovid, people started working by going to the office, due to which the companies’ earnings decreased and the expenses increased.
3) Fear of further decline in demand due to recession.
4) Increase in cost due to worldwide inflation.
