The global economic crisis is affecting even the largest technology companies. As the global recession escalates, companies and people are preparing themselves for disaster scenarios. And these concerns have even reached the multi-billion dollar tech companies that are already making moves to cut unnecessary spending and keep workflows running. Among them is Google. The company’s approach – at least for now – is to slow down hiring, which is one of the main sources of additional expenses.
Recruitment for critical roles will continue
The company will slow hiring for the remainder of the year, as stated in an internal memo shared with employees by Google’s CEO, Sundar Pichai. But hiring will continue for critical roles in engineering, technical, and other long-term considerations.
It is unknown to what extent Google will reduce its human resources spending. It’s also unclear whether Google will take additional measures to keep its spending in check if the global economy continues to deteriorate.
Layoffs continue
While companies such as Meta, Snap and Spotify take similar measures, there are also companies such as Twitter and Netflix that go the way of laying off employees. In a recent development, Netflix laid off 300 employees in the United States. Twitter parted ways with nearly 100 employees.
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