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Wednesday, February 8, 2023

Google announces 12,000 layoffs globally

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“We have carried out a rigorous review in all areas of products and activities to ensure our people and positions are aligned with our highest priorities as a company,” Pichai wrote.

“The posts we are removing reflect the outcome of that review. The fact that these changes will have an impact on the lives of ‘Googlers’ weighs heavily on me, and I take full responsibility for the decisions that have led us herePichai added.

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Google joins other large technology companies that announced layoffs globally after they saw a contraction in their yields.

It is that 2022 was marked by the falling profits of big techdriven in part by a drop in advertising revenue (dragged by the contraction in consumption) and higher interest rates that make riskier investments less attractive.

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As a consequence and in the same sense that Google moved Microsoftwhich this week announced it will lay off 11,000 workers worldwide. Amazon He spoke in the same direction and announced 18,000 layoffs in the United States, Mexico and Canada. In the case of Amazon, this is in addition to the 10,000 it had announced in November.

The latest reports from the company showed that in the third quarter it had income from u$s69.092 million, which meant a 6% increase in relation to its balance of a year ago. These benefits failed to exceed the US$71,340 expected by the market. Along the same lines, the announcement of net earnings per share was $1.06a figure that is far from the $1.28 of the consensus that analysts had.

After knowing the news, Google shares grow 2.3%.

Source: Ambito

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