Alphabet to lay off 12,000 employees
As Chatgpt Trends Online And The ideas Surrounding AI Artificial Inteliigence not AI The City in The Bible That initially Escaped The Biblical Isreali Forces and God’s Wrath Through The Sin of one Man . But AI or The One Man Worker Bot and The Tech CEOs making sweeping changes in the Tech World ata Time one would Expect Tech To be Alive . Or Do these One Man CEOs or Kings of Their own Tech Kingdoms know something we dont know ? That AI has Leapt Far more Than We Thought ? And that Some Tech Jobs might finally be Obsolete ? My conspiracy Theory Still Sticks To This Line of Sight Thought .
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Google’s parent Alphabet is cutting about 12,000 jobs as it faces ‘a different economic reality’, it said in a staff memo.
The cuts come as Alphabet, long a leader in key areas of artificial intelligence, is facing competition from Microsoft, which is reportedly looking to boost its stake in ChatGPT – a promising chatbot that answers queries with human-like responses.
With Alphabet’s staff cuts, layoffs at four of the biggest U.S. tech companies total 51,000 jobs, led by Amazon. Facebook owner Meta Platforms also slashed jobs in November.
Google parent company Alphabet announced Friday that it is cutting around 12,000 jobs, or 6% of its global workforce. The company stated that while the layoffs will occur in all regions and hit most units, they may affect teams such as recruiting more. Alphabet follows tech giants such as Microsoft (LinkedIn’s parent company), which announced layoffs earlier this week, as well as the likes of Meta and Amazon. Many Big Tech firms hired extensively during the pandemic to cope with enormous demand, and are now contending with an uncertain economic climate and record-high inflation.
Microsoft to lay off 10,000 workers
Microsoft has announced that it will lay off around 10,000 of its employees, less than 5% of its total workforce. The software giant (parent company to LinkedIn) will begin the redundancies Wednesday, as it faces customers who want to do “more with less” amid an uncertain global economy. Microsoft, which joins the likes of Amazon, Meta and Alphabet in announcing recent layoffs, will take on a $1.2 billion charge related to restructuring costs. The company says it will continue to hire and invest in strategic areas and called out its focus on artificial intelligence.
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Microsoft notified employees on Wednesday it will cut 10,000 workers, or less than 5% of its workforce, as it joins other large tech firms in paring staff after years of growth.
It joins a growing list of large tech firms that have recently cut staff, a roster that includes Amazon, Meta, Salesforce, Twitter and Snap, among others.
Ex-Alphabet employees are reacting to the layoffs here.
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Google is laying off 12,000 people, its largest layoff ever. Here’s what you need to know:
– Cutting 12,000 jobs is regrettable, but Google still remains far above its employee headcount ahead of the pandemic ramp-up. In March 2020 Google had 123,000 employees and by last quarter it was up to 186,000. This hurts, but it alone shouldn’t leave Google diminished.
– That said, Google has a major challenge on its hands. It must effectively respond to the threat from ChatGPT and Microsoft’s OpenAI partnership. And it must do so as employees reel from the cuts. Google was probably the ‘safest’ of all the tech giants and that safety is gone now. Sundar Pichai will have to keep his employee base motivated while retaining his high performers and innovators. It won’t be easy.
– For that reason, I expect this to be the end of the cuts. Google needed to do this and it mulled it for months. Its profit dropped 27% last quarter, which is brutal. More rounds of cuts could send Google’s most crucial employees out the door, and that could be a serious problem for the company.
– In the short term, I see Google as a solid candidate for a rebound. As the economy improves, advertising can come back in a big way and search is one of the first places that advertisers will turn back on.
Google’s parent Alphabet is cutting about 12,000 jobs as it faces ‘a different economic reality’, it said in a staff memo.
The cuts come as Alphabet, long a leader in key areas of artificial intelligence, is facing competition from Microsoft, which is reportedly looking to boost its stake in ChatGPT – a promising chatbot that answers queries with human-like responses.
With Alphabet’s staff cuts, layoffs at four of the biggest U.S. tech companies total 51,000 jobs, led by Amazon. Facebook owner Meta Platforms also slashed jobs in November.
reviews
I am not at all surprised by the news that Google will axe 12,000 jobs worldwide. The company has been hit by a considerable reduction in advertising revenues.
Sundar Pichai, Google’s CEO, said that the firm will begin making layoffs in the U.S. immediately. In other countries, the process “will take longer due to local laws and practices.”
Google is not the only big tech company that announced an adjustment in its workforce. Between Google, Amazon, Facebook Meta and Apple the job cuts has totaled 50,000 employees.
Tech companies are facing a variety of challenges at the moment, the biggest of whom are rising interest rates and inflation over the past year that forced advertisers to cut back on online ad spending and investors to shift interest to dividend paying stocks.
I think we are now approaching the moment where companies (and analysts) will throwing in the towel on 2023 earnings expectations which have been too optimistic.
I think volatility may very well spike this quarter as companies come clean about their growth prospects for the next 24 months. The market may tank, flush out the weak positions and then start a new growth cycle, perhaps already during the second part of the year.
So buckle up, the next 3-4 months will be very volatile, I still think the S&P 500 could test the lows of October 2022 and bottom between 3,200 and 3,000 USD.
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