Mr. Sundar Pichai, the Chief Executive Officer (CEO) of Google revealed a shocking memo to employees, fearing layoffs, at one of the leading tech companies in the World.
Mr. Sundar Pichai has revealed to the employees that the company will be entering a phase of hiring slowdown and might be conducting layoffs. The sudden move of the company is amid economic issues.
In a mail written to the Google employees, on the 12th of July, Tuesday, Mr. Sundar Pichai wrote, “Like all companies, we’re not immune to economic headwinds.” It further added, “We need to be more entrepreneurial working with greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days.”
The sudden slow down in hiring and laying off feared employees, working remotely amid the Novel Coronavirus pandemic. However, Mr. Sundar Pichai assured to maintain a balance and hire employees from technical, engineering, and other critical roles in 2022-2023.
Notably, Google is not the only multinational company that slowed down hirings, but recently Twitter also fired 100 HR employees.
Meanwhile, Google’s parent company Alphabet shares are down by 21% so far this year. The share fall of Alphabet is not only impacting Google, but many tech industry investors in the tech-oriented market.
Also, the company’s growth in the first quarter slowed to 23% from a year earlier, down from 34% growth in the first three months of 2021, when the economy was reopening from the pandemic.
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