Google Layoffs: Alphabet, Google’s parent company, is reportedly preparing to lay off about 10,000 “underperforming” employees, or 6 percent of its workforce. The move is in response to pressure from activist hedge funds, adverse market conditions and the need to reduce expenses. Employees who get low performance ratings will be let go.
A new performance management system could help managers weed out thousands of underperforming employees as early as next year. The report mentions that managers may also use the ratings to avoid giving them bonuses and stock grants.
The company is still investing in long-term projects like quantum computing. But it’s important to be smart, to be frugal, to be scrappy, to be more efficient.
“Google has suspended hiring new employees and has reportedly asked some existing employees to shape up or ship out” if they don’t meet expectations”.
Input news18 image source: Google