Alphabet Inc’s google said Wednesday it would slow the pace of hiring for the rest of the year, the latest company to take such a step as decades high inflation and the effects of the crisis in Ukraine are putting pressure on businesses.
The announcement aligns Google with other major tech companies, including: Uber Technologies Inc and Twitter Inc and comes a day after Microsoft Corp said it would eliminate some positions.
“Like all companies, we are not immune to economic headwinds,” Alphabet said in a registration application.
Sundar Pichai, CEO of Alphabet and Google, told employees the company “needs to be more entrepreneurial” and will have to operate with “greater urgency, sharper focus and more hunger than we’ve shown on sunnier days.”
Alphabet Inc’s Google said Wednesday it would slow its workforce for the rest of the year. The company’s share price has fallen
Its recruiting efforts will focus on tech and technical roles, it said.
Sundar Pichai, CEO of Alphabet and Google, told employees the company “needs to be more entrepreneurial” and will have to operate with “greater urgency, sharper focus and more hunger than we’ve shown on sunnier days,” according to an internal memo seen. by means of The edge†
Pichai said the move will mean halting development and redeploying resources to higher-priority areas.
A number of companies, including Uber and Meta, have cut their workforces, while others – such as Netflix – have laid off staff.
The announcement aligns Google with other major tech companies, including Uber Technologies Inc and Twitter Inc, and comes a day after Microsoft Corp said it would eliminate some positions. Pictured: Google HQ
Mark Zuckerburg has decided to strict on the staff because managers are ordered to evict coasting employees amid a devastating fall in value.
An internal memo Sent on Friday by Facebook’s chief of engineering, Maher Saba, instructed tech managers to report anyone “needs support” to human resources by 5 p.m. Monday, according to the report. Information†
“If a direct subordinate is dying out or underperforming, they’re not the ones we need; they are letting this company down,” Saba wrote in the scathing message, “As a manager you cannot allow anyone to be just neutral or negative to meta†
The move marks a dramatic change of tone for the social media giant — recently renamed Meta — which in its early days was known for setting the tone for the relaxed and laid-back corporate attitude that characterized Silicon Valley.
The news comes as Facebook’s value has fallen sharply in recent months — down nearly 52 percent since the start of 2022 — amid an ongoing reckoning with the company’s privacy policy that is abandoning its old method of monetizing user data. to sell has undermined.
“If I had to bet, I’d say this is one of the worst recessions we’ve seen in recent history,” Mark Zuckerberg told employees during a company-wide appeal in late June.
“If a direct subordinate is dying out or underperforming, they’re not the ones we need; they are letting this company down,” wrote Facebook’s chief of engineering, Maher Saba (above),
“If I had to bet, I’d say this might be one of the worst recessions we’ve seen in recent history,” Mark Zuckerberg told employees during a company visit to employees in late June.
During the conversation, the 38-year-old Facebook founder said he expected to cut technician hiring plans by at least 30 percent as the company seeks ways to cut costs, Reuters said.
During the conversation, Zuckerberg indicated that one of those cost-saving methods would be to remove one’s own weight.
“Realistically, there are probably a lot of people at the company who shouldn’t be here,” he said.
It wasn’t immediately clear why Zuckerberg believed there was dead weight in the company’s workforce.
Saba’s memo turned out to be one of the first steps in that process, with many employees expressing fears that their jobs could be on the line due to layoffs.
“The reaction of people who have seen this is that this will be used to make a forest [of] ‘performance improvement plans’ that will result in massive layoffs,” an unnamed person close to the case said The Washington Post†
Employees are also concerned about discounted promotions and shrunken bonuses, according to the Post.
“I think some of you might decide that this place isn’t for you, and that self-selection is okay with me,” Zuckerberg told employees during the June call.
Facebook employees are also concerned about reduced promotions and shrunk bonuses, according to The Washington Post
In late 2021, Facebook reported that it had lost daily users for the first time since its inception 18 years ago.
The downturn comes after Apple introduced a privacy policy on its devices that aims to curb the ability of third parties to collect and sell user data. Apps — including Facebook — were forced to ask people if they wanted their activity tracked so they could receive targeted ads. Many refused and deprived Facebook of that cornerstone of revenue.
The company has also faced increasing competition from other social media apps like TikTok, despite relying heavily on its own short video platform, Reels.
Profits at Facebook have also fallen since it was renamed Meta, following Zuckerberg’s bet that the next era of the internet will be a virtual reality-based immersive experience known as the metaverse.
Meanwhile, in May, Uber said it will cut hiring and cut spending on its marketing and incentive activities after the company posted a $5.9 billion loss for the first quarter of 2022, CEO Dara Khosrowshahi said in an email. e-mail to staff.
Khosrowshahi said Uber’s change of strategy was a necessary response to the “seismic shift” in investor sentiment, according to an email obtained by CNBC†
“After the profit, I spent several days meeting investors in New York and Boston,” Khosrowshahi said.
“Clearly the market is going through a landslide and we have to respond to that.”
“The least efficient marketing and incentive spend is being withdrawn. We will consider hiring as a privilege and make informed decisions when and where to add staff,” Khosrowshahi added.
Uber will scale back its workforce and cut spending on its marketing and incentive activities after the company posted a $5.9 billion loss for the first quarter of 2022, CEO Dara Khosrowshahi said in an email to staff.
The company’s revenues more than doubled to $6.9 billion in the first quarter of this year, but Uber also posted a $5.9 billion loss due to a decline in its equity investments.
The company will now focus on achieving profitability based on free cash flow, rather than adjusted earnings before interest, taxes, depreciation and amortization, according to the CNBC report.
The ride hailing giant expects to generate “meaningful positive cash flows” for the full year, according to its latest earnings report.
Khosrowshahi added in his letter that Uber’s food delivery and freight business should grow faster, the CNBC report added.
In May, Netflix announced that it was cut about 150 jobs after losing 200,000 subscribers since the end of last year.
In May, Netflix announced it was cutting about 150 jobs after losing 200,000 subscribers since late last year. Above, the company’s headquarters on Sunset Boulevard in Hollywood
Most of the workers laid off are based in the US and work in creative roles for film and TV.
The California-based streaming service is even eliminating some executive positions in its original content divisions, sources have told Deadline† A few board-level executives may also be on their way out.
In December, Netflix employed about 11,300 full-time employees, meaning the cuts represent about 1 percent of the global workforce.
Just under half of the workforce is based in Los Angeles, with much of the rest at the company’s headquarters in Los Gatos, in the Bay Area.