Sundar Pichai's announcement shocked the tech world..!?

Inflation is increasing day by day in the countries of the world and the interest rate is rising, there is a fear of recession in the superpower countries. While many companies in the US are already laying off their employees, there is a high demand for tech workers in India. But there is also a fear. Leading Fortune 500 companies such as tesla, Facebook, and Twitter, which are cash-rich in the US, have laid off employees and stopped hiring. Alphabet company, currently headed by Sundar Pichai, a Tamilian, has also joined this line.
Google's parent company, Alphabet, has taken the same decisions as companies like tesla, Facebook, and Twitter. That means it plans to lay off redundant staff in certain departments or slow hiring across the board for the rest of the year. Historically, google has been relatively immune to economic downturns in the tech industry. google, the world's largest Internet services company, last temporarily halted hiring months after the 2008 financial crisis a decade ago.But then Google's massive growth in its advertising business led to excessive hiring. At the same time, many of Google's projects such as smartphones, self-driving cars, etc. are not yet profitable, and the burden on employees has increased. As of march 31, Google's parent company Alphabet employed nearly 1,64,000 employees in offices across the globe. In recent years, google has been hiring more employees in its cloud division and hardware division. The economic slowdown following the coronavirus pandemic prompted Snap and Lyft to temporarily slow down hiring in May, and tesla announced plans to lay off 10 percent of its workforce.Earlier this week, Microsoft, another giant in the tech world, announced a small number of layoffs. And mark zuckerberg has said that Meta Platforms, Facebook's parent company, will stop hiring new employees and lay off employees. While google has hired 10000 employees in the 2nd quarter alone, in the next 6 months, they are going to hire people only in engineering, technical, and other important jobs. Sundar Pichai said that the pace of recruitment in other posts and divisions will be reduced.
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Sowmiya Sriram

13/07/2022 01:30 PM