Google resorts to layoffs, transfers roles overseas amid cost reductions
PTC News Desk: In a significant move, Google, the tech giant, has unveiled plans for a major restructuring that may result in employee layoffs, marking the company's second round of job cuts in 2024. The announcement follows a prior caution from Google CEO Sundar Pichai about the potential for further layoffs in the year.
Ruth Porat, the chief financial officer at Google, addressed employees via a memo detailing the company's restructuring initiatives, as reported by CNBC. In the memo, Porat acknowledged the transformative shift underway in the technology sector, particularly with the advent of Artificial Intelligence (AI).
She emphasised the opportunity for Google to develop more impactful products serving billions of users and delivering swift solutions to customers. However, Porat also highlighted the necessity for difficult decisions to align with the company's strategic priorities.
Expressing regret over the impending departures, the memo conveyed, "We are sad to say goodbye to some talented teammates and friends we care about, and we know this change is difficult." The sentiment underscores the emotional impact of the restructuring on affected employees.
The announcement of further job cuts underscores Google's ongoing efforts to adapt to the evolving technological landscape while streamlining its operations to remain competitive. This latest development reflects the broader challenges faced by tech companies amid rapid advancements and shifting market dynamics.
How many Google employees could be impacted by layoffs?
The precise number of Google employees affected by the latest round of layoffs remains unconfirmed by the company. However, reports suggest that the layoffs could predominantly impact the finance division within Google.
Which regions might witness the effects of Google layoffs?
According to the report, the restructuring will have repercussions on teams located in Asia-Pacific, Europe, and the Middle East. Additionally, Google intends to establish more centralised hubs in cities such as Bangalore, Dublin, Mexico City, Atlanta, and Chicago.
Tech Layoffs Trend in 2024:
In the tech industry, several companies including Tesla, Apple, and Amazon have initiated restructuring plans in 2024 and 2023, resulting in tens of thousands of job cuts worldwide. Reports indicate that over 58,000 tech employees have been terminated thus far in 2024.
- With inputs from agencies
