Google has slowed hiring, but that’s not enough
According to Bernstein analyst Mark Shmulik, avoiding the layoff situation as much as possible, Google used different methods to reduce its employees. Google, which does not try to convince its qualified employees who receive offers from big technology companies and start-ups and allows them to leave, will not find success in this method because other technology companies have started to lay off and stop hiring. Shmulik stated that “Google will not be able to reduce the increase in the number of people below the increase in revenue without taking more drastic steps,” and stated that the company will have to take different steps.
Recruiting 12,000 new employees in the third quarter of 2022, the company grew by 24% compared to the previous year, but profit growth was only 6% during this period. In Google’s latest earnings call, CEO Sundar Pichai and CFO Ruth Porat said they are aware of the situation and will slow hiring in the fourth quarter of the year. But analysts say the firm will hire 6,000 in the fourth quarter, even as it slows hiring, prompting shareholders to call for mass layoffs.
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