Google to Reduce Workforce, Citing Slowing Hiring Demand
Google is reportedly cutting hundreds of jobs at its global recruiting organization, as part of a broader pullback in hiring over the next several quarters.
In a statement, Google said that the “volume of requests for our recruiters has gone down.” The company, however, declined to reveal the exact number of people being asked to go from its recruiting workforce.
Google slowed down the pace of hiring last year amid the global economic slowdown. In January of this year, the company announced it was cutting 12,000 jobs, affecting roughly 6% of its full-time workforce.
In a video meeting with employees, Google’s recruiting vice president, Brian Ong, said that the decision to reduce the size of the recruiting organization was “not an easy one.”
“Given the base of hiring that we’ve received the next several quarters, it’s the right thing to do overall,” Ong said.
He added that the employees who are impacted by the job cuts will start receiving emails from Wednesday, September 13. Ong also said that employees hit in the latest layoffs will retain access to offices this week and online systems for longer.
The layoffs come as Google faces a number of challenges, including slowing revenue growth and increased competition from rivals like Amazon and Microsoft.
The company is also under pressure from investors to cut costs. In July, CEO Sundar Pichai said that Google was continuing to slow its “expense growth and pace of hiring.”
The layoffs are likely to be met with disappointment by Google employees, who have come to expect the company to be a steady source of jobs. However, the cuts are a sign that Google is facing some tough challenges and is taking steps to address them.
Here are some additional insights from Google’s VP’s video address to staff:
- The job cuts are necessary to “ensure that we are best positioned for long-term growth and success.”
- The company is still hiring for “key roles,” but the pace of hiring will be slower than in the past.
- Google is committed to providing severance packages and other assistance to employees who are affected by the layoffs.
The job cuts are a reminder that even the biggest and most successful tech companies are not immune to economic challenges. Google is not the only tech company that has announced layoffs in recent months. Other companies that have cut jobs include Meta, Twitter, and Netflix.
The layoffs are also a sign that the tech industry is maturing. The days of rapid growth and easy hiring may be over. Tech companies are now facing more competition and are having to be more careful with their spending.
It remains to be seen how the job cuts will impact Google’s long-term growth. However, the company is confident that it is making the right decision to ensure its future success.