CEO Sundar Pichai expressed remorse for the decision and acknowledged that it was a “difficult decision to set us up for the future.” The layoffs will impact employees globally and across the entire company.
Pichai stated that the company had gone on a hiring spree in recent years during a period of “dramatic growth,” but unfortunately, the current economic reality necessitates reducing expenses and hiring. This move follows similar job cuts by companies such as Microsoft, Amazon, and Meta.
Google’s profits dropped by 27% in the last quarter compared to the previous year. The company plans to focus on AI and will be introducing new experiences for users, developers, and businesses. Affected employees will be provided with severance packages, including 16 weeks of salary, additional pay for every year worked at Google, accelerated vesting, 2022 bonuses, remaining vacation time, healthcare coverage for 6 months, job placement services, and immigration support.