- Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google has decided to cut 12,000 jobs globally.
- CEO Sundar Pichai said that the eliminations reflect a rigorous review across product areas and functions to ensure that its people and roles were aligned with its highest priorities as a company.
- They cut across Alphabet, product areas, functions, levels, and regions.
- Also Read: Google Employees Push Back Against Cost Crackdown, Alleging “Nickel And Diming” From CEO
- Google proposed to reimburse employees during the whole notification period.
- Google also prepared to 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.
- Google promised to pay 2022 bonuses and remaining vacation time.
- Google agreed to dole out six months of healthcare, job placement services, and immigration support for those affected.
- Outside the U.S., Google pledged to support employees in line with local practices.
- Previously, Google had canceled product launches and project budgets to tide through the slowdown and sought employee productivity suggestions.
- Pichai had earlier dodged employee questions asking about cost-cutting executive compensation.
- Google was the latest Big Tech to join peers like Amazon.Com Inc (NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), and more to take the difficult decision of downsizing amid pandemic recovery-driven business slowdown and macro uncertainties.
- Also Read: Microsoft Slashes Workforce After Denying Layoff Plans, Narrows Focus In Response To Macro Pressures: ‘It’s Showtime’
- Price Action: GOOG shares traded higher by 3.36% at $97.07 in the premarket on the last check Friday.
- Photo Via Company
This Recent Acquisition By Warren Buffett’s Berkshire Hathaway Outperforms Nike, Netflix And Coca-Cola In Revenue And Headcount
Berkshire Hathaway, led by Buffett, acquired the remaining 20% stake in Pilot Travel Centers, a truck-stop chain, on Jan. 17. The acquisition, valued at over $13 billion, adds Pilot to Berkshire's portfolio, which already includes companies like Geico, Duracell, and Dairy Queen.
