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Monday, July 15, 2024

Google planning mass layoff after Meta and Twitter

After Meta and Twitter mass lay offs Google is planning the same. Alphabet CEO Sundar Pichai justified the upcoming move citing excess and unproductiveness of employees.

The search engine giant Google has informed their employees to perform well or leave the company. Which sounds like threatening but the company believes that this will motivate employees to perform well.

The statistical analysis of productivity in third quarter will make company to take decision about layover. Google has already extended its hiring freeze this month without making an announcement.  Google is reportedly warning its workers to either boost performance or prepare to leave as “there will be blood on the streets” if the next quarterly earnings are to come out in 2022 not good.                                 

Google CEO, Sundar Pichai said he wanted to consult with employees on how to “get better results faster”. Pichai further said, “It is clear that we are facing a challenging macroeconomic environment with greater uncertainty ahead, the real concern is that our overall productivity is not where it should be with our current workforce.”           

Google parent company Alphabet reported weaker-than-expected earnings and revenue for the April-June period (Q2). Revenue growth slowed to 13 per cent from 62 per cent in the same quarter last year. Due to this, there is an atmosphere of fear amongst the Google employees.

They are concerned about their future. Most of the employees are trying to secure new jobs in other organizations. The leading social media companies all over the world are going through recession now a days. Which is resulting in layover. Those companies failed in providing job security to their employees. It is very depressing with respect to the employment world all over the globe.

Tech-giants Twitter, Meta and Google are on cost cutting mission by firing their employees. Meta in a blog post, on Wednesday shared that it will be firing 13% of its workforce around 11,000 employees. The company also shared that it will be extending the hiring freeze through Q1.        

In a post titled” Mark Zuckerberg’s message to Meta employees”, the company shared that the decision to downsize came due to a macroeconomic downturn, increased competition and ads signal loss. Zuckerberg called the current economic situation “one of the worst global economic downturns we’ve seen in recent years”. Zuckerberg also made it clear that the company would fire underperforming employees.               

After taking charge of Twitter, new owner Elon Musk fired about   Twitter’s 7,500 employees worldwide. He said cutbacks were needed because the company loses millions of dollars every day. Most of the employees fired are from product and engineering team.  

During covid 19 pandemic, most of the social media sites all over the world gained sudden a revenue boost. Behind this the reason was, in pandemic era, most of the people used to stay at home and surfed most of the social media sites and search engines on their mobiles and computers.

This was a way for them to enjoy spare time. But after the end of pandemic, people’s lives normalised, they started going out and a sudden fall in the revenue of social media companies was recorded.  online advertisements were the greatest source of revenue for the company. Which declined suddenly in post pandemic period.            

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