Google CEO Sundar Pichai has announced a 12,000 employee downsizing of the Google workforce.
Like Microsoft, Amazon, Meta and other big tech companies recently, Google is being forced to downsize its workforce in the face of rising inflation and a looming downturn in global markets.
In a news CEO Sundar Pichai announced to Google employees that 12,000 jobs would be cut, which accounts for around six percent of the workforce.
This move marks the moment to sharpen focus, revamp the cost base, and direct talent and capital toward the company’s highest priorities. Artificial intelligence is one of the key areas for the future:
“I’m confident that the strength of our mission, the value of our products and services, and our early investments in AI mean we have a huge opportunity ahead of us. In order to take full advantage of them, we have to make tough decisions.”
In its October earnings report last year, Google announced revenue of $69 billion and profit of $13.9 billion. While that represents a $3.9 billion increase in revenue, it also represents a $5 billion drop in earnings compared to the same quarter last year.
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