Managers could potentially exploit the ratings to avoid paying incentives and stock awards to their employees.
Digital Desk: When it comes to layoffs, the tech giants are on a tear. Amazon, Twitter, Meta, and several other prominent corporations have laid off thousands of workers in the previous several weeks. Google appears to be joining the bandwagon, as its parent company Alphabet is apparently intending to lay off 10,000 'poorly' employees.
According to the Information, Google intends to lay off around 10,000 employees by executing a new performance improvement and ranking plan. According to the report, under the new approach, the company has requested managers to categorize 6% of employees, or roughly 10,000 people, as low achievers in their industry.
As stated in the study, "Starting early next year, a new performance management system could enable managers fire thousands of under performing employees. Managers could potentially exploit the ratings to avoid paying incentives and stock awards to their employees."
According to the study, the new approach limits the percentage of employees who can receive a high grade. Alphabet has not yet responded to the report. It employs around 187,000 people.
Mark Zuckerberg also announced earlier this month in an internal memo that the business will lay off 11,000 people across multiple divisions owing to decreased revenue and unplanned losses. Elon Musk recently let off over half of Twitter's workers after acquiring it in a $44 billion deal.
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