Google Layoff: Google has launched a new ranking and performance improvement plan to monitor employees who are not performing satisfactorily. Under this, the company is considering firing employees who come under its radar. In the past, tech firms such as Meta, Amazon and Twitter have also announced massive layoffs.
- Job crisis at Google
- 10 thousand employees will be seated at home
- Sundar Pichai is preparing to take an important decision
According to a report in The Information, Google has launched a new ranking and performance improvement plan to monitor employees who are not performing satisfactorily. Under this, the company is considering firing employees who come under its radar. In the past, tech firms such as Meta, Amazon and Twitter have also announced massive layoffs.
Pink slip from early next year
“A new performance improvement system could help management shed thousands of employees starting next year. Under the new system, managers are asked to classify 6 percent of employees, or about 10,000 people, as underperformers in terms of their business impact.
Google’s current employee strength is 1.87 lakh
Alphabet has approximately 187 thousand employees. Last year, the average compensation of an Alphabet employee was approximately $2,95,884, according to US Securities and Exchange Commission (SEC) filings. Alphabet reported a third quarter (Q3) net profit of $13.9 billion. This is 27 percent less than a year ago. While the global recession and fears of a recession pushed revenue up 6 percent to $69.1 billion.
Pichai wanted to improve the performance of the company
Company CEO Sundar Pichai aims to make Alphabet 20 percent more efficient. There were earlier reports that Alphabet was giving the company 60 days to apply for new job roles if some employees were to be cut. Pichai had said that the company is still investing in long-term projects like quantum computing. But it is important to be smart, frugal, not wasteful and more efficient.
Google has more employees and salaries
In the wake of fears of a global recession, IT companies around the world are now facing a growing demand for restructuring. The hedge fund of billionaire businessman Sir Christopher Hohn, one of the investors in Google’s parent company Alphabet, has written to the company alleging Accordingly, the employees of Google and YouTube are being paid more and it is said to reduce the employees.
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