According to a source, Google CEO Sundar Pichai declined to rule out layoffs when worried employees raised the issue during an all-hands meeting.
Thursday, Pichai addressed questions from employees, including one who asked if there were plans to “cull” the company’s workforce in the coming year.
Pichai stated, “Because it’s so difficult to foresee the future, I can’t honestly sit here and make commitments for the future.” Insider was the first to report on his remarks.
The CEO said, “What we’ve been trying to do, and you’ve seen the messaging over the past many, many months, is to make crucial decisions, be disciplined, prioritize where we can, and rationalize where we can, so that we are better positioned to weather the storm, no matter what lies ahead.”
This is what I believe we should concentrate on and do our best at.
Concerned staff interrogated Pichai about their employment status.
REUTERS
Other software firms, handicapped by the economic crisis, have cut off significant portions of their workforces, leaving Google employees apprehensive about the company’s future.
After taking over the social media firm for more than a month, Elon Musk sacked more than half of Twitter’s software engineers and developers.
Meta, the parent corporation of Facebook, reduced its personnel by 10% last month. Snap, the parent company of Snapchat, laid off 15% of its workforce in August.
Apple announced the implementation of a hiring freeze last month. Last month, Amazon announced intentions to eliminate 10,000 positions, and CEO Andy Jassy warned staff that more layoffs were in the works for the coming year.
In preparation to weather the storm, Google had earlier announced a recruiting slowdown and several organizational adjustments.
The most recent earnings report from Google fell short of expectations.
It also launched a new performance grading system known as GRAD, which has disappointed Google employees. According to Insider, employees voiced concern over frequent “support check-ins” from managers who wanted to talk performance with employees who may not be pulling their weight.
This year’s implementation of a more stringent review system has caused worry among the ranks that their jobs may be eliminated.
A spokeswoman for the corporation was not immediately available for comment.
The most recent earnings report from Alphabet revealed that the company’s summertime revenue growth slowed to its lowest level since the beginning of the coronavirus outbreak two years ago.
Workers in the IT sector are concerned about the economic downturn that has harmed their industry.
Alphabet, which also owns YouTube, reported $69.1 billion in sales for the quarter of July-September, a 6% rise from the same period last year.
It marked the first time since April-June of 2020 that Alphabet’s quarterly revenue grew by less than 10% year over year.
Advertising, which generates the majority of Alphabet’s revenue, dried up during the early months of the pandemic due to economic anxiety.
Google’s ad sales declined significantly more than Alphabet’s overall revenue. The total ad income was $54.5 billion, a 2.5% increase from the same period last year.
YouTube’s quarterly ad sales dipped 2% from the previous year, marking the first time the video site’s revenue has declined since Google began revealing its statistics in 2019.
Alphabet’s profitability were adversely affected by the decline in revenue.
The corporation from Mountain View, California, earned $13.9 billion, or $1.06 per share, a 27% decrease from the same period last year. Both revenue and earnings per share fell short of the estimates of FactSet experts.
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