Google To Fire 12K Employees Worldwide; Extends Support Packages

Google To Fire 12K Employees Worldwide; Extends Support Packages
  • Alphabet Inc GOOG GOOGL Google has decided to cut 12,000 jobs globally.
  • CEO Sundar Pichai said that the eliminations reflect a rigorous review across product areas and functions to ensure that its people and roles were aligned with its highest priorities as a company.
  • They cut across Alphabet, product areas, functions, levels, and regions.
  • Also Read: Google Employees Push Back Against Cost Crackdown, Alleging "Nickel And Diming" From CEO
  • Google proposed to reimburse employees during the whole notification period.
  • Google also prepared to offer a severance package starting at 16 weeks' salary plus two weeks for every additional year at Google and accelerate at least 16 weeks of GSU vesting.
  • Google promised to pay 2022 bonuses and remaining vacation time.
  • Google agreed to dole out six months of healthcare, job placement services, and immigration support for those affected.
  • Outside the U.S., Google pledged to support employees in line with local practices.
  • Previously, Google had canceled product launches and project budgets to tide through the slowdown and sought employee productivity suggestions.
  • Pichai had earlier dodged employee questions asking about cost-cutting executive compensation.
  • Google was the latest Big Tech to join peers like Amazon.Com Inc AMZNMicrosoft Corp MSFTMeta Platforms Inc META, and more to take the difficult decision of downsizing amid pandemic recovery-driven business slowdown and macro uncertainties.
  • Also ReadMicrosoft Slashes Workforce After Denying Layoff Plans, Narrows Focus In Response To Macro Pressures: 'It's Showtime'
  • Price Action: GOOG shares traded higher by 3.36% at $97.07 in the premarket on the last check Friday.
  • Photo Via Company

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