A new ranking and performance improvement plan is what the search engine juggernaut is using to gradually lay off 10,000 staff, it was revealed last month.
Digital Desk: Google may be the next big behemoth to fire off thousands of employees, following companies like Meta, Twitter, Microsoft, and Amazon, as CEO Sundar Pichai apparently had nothing comforting to say about the layoffs. It's "difficult to foresee the future," claimed the tech giant's chief executive of Indian descent.
Pichai responded that he couldn't honestly make assurances regarding the same at a recent all-hands meeting when questioned about layoffs because the future is difficult to predict. The CEO of Google responded to a question from a staff member about if the company would "cull" its workers in 2023 by saying that the company was making measures to "better weather the storm" of the economy, but he wouldn't rule out layoffs.
"We've been working extremely hard, and you've probably noticed the messaging for the past many, many months, to make critical decisions, maintain discipline, set priorities where we can, and use logic where we can so that we are better prepared to weather the storm, no matter what comes next. I believe we should concentrate on that and give it our all "Business Insider cited Pichai as saying.
A new ranking and performance improvement plan is what the search engine juggernaut is using to gradually lay off 10,000 staff, it was revealed last month. This is due to pressure from an activist hedge fund, unfavourable market circumstances, and a desire to cut costs, according to a story in The Information.
Alphabet, the parent company of Google, has asked managers to designate 10,000 individuals, or 6% of the workforce, as low achievers in terms of their contribution to the firm. Poor performers will be fired from their positions. The number of employees who can receive a high rating has likewise decreased under the new approach.
In a letter to the parent company of Google, British billionaire activist investor Christopher Hohn claims that salaries at Google are excessively high compared to those at competing IT firms. The letter also stated that Alphabet's excessively large workforce needed to be reduced.
According to a US SEC report, the average salary for an Alphabet employee last year was about $295,884.This is nearly 70 per cent more than what Microsoft paid its employees.
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