Home Business Google staged tens of thousands of layoffs CEO response: senior executives’ year-end bonus dropped sharply

Google staged tens of thousands of layoffs CEO response: senior executives’ year-end bonus dropped sharply

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Google staged tens of thousands of layoffs CEO response: senior executives’ year-end bonus dropped sharply

Recently, American technology companies have staged a wave of layoffs. Amazon and Microsoft have announced major layoffs. As one of the world‘s technology giants, Google also announced the layoffs of 10,000 people last week.

On January 21, Alphabet, the parent company of Google, announced on the 20th that it would lay off approximately 12,000 employees worldwide.As a result, it has become the latest giant to lay off large-scale layoffs in the wave of layoffs of American technology companies since last year.

The number of layoffs this time is equivalent to about 6% of Alphabet’s total employees. It first affects employees in the United States. The layoffs cover technology, products, human resources and other departments.

A few days ago, Google CEO Sundar Pichai told employees on Monday that the layoffs were to take decisive action to avoid “worse” problems as the company’s growth slowed.

He also stressed that the layoffs were the result of careful consideration. “This process is by no means random,” Pichai said. He added,Year-end bonuses for all senior vice presidents and above will be “significantly reduced” this year, as bonuses are tied to company performance and leadership is held accountable.

In addition, it is worth noting that a well-known analyst pointed out that the record number of employees of Google’s parent company has caused significant profit margin risk in fiscal year 2023.But the layoffs could save it $2.5 billion to $3 billion in costs.

Moreover, in the past few months, the four largest technology companies in the United States have laid off a total of 51,000 people. The data fueled recession fears at a time when the U.S. job market remains tight, with layoffs in the tech sector signaling a more negative outlook for job security.

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Editor in charge: Ruofeng

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