Alphabet Inc GOOG GOOGL Google is undergoing a significant workforce reduction in its global recruiting department as part of a larger-scale hiring slowdown projected for the coming quarters.
Despite the difficulty of this decision, Brian Ong, Google's Vice President of Recruiting, emphasized its necessity in light of the reduced hiring needs for the foreseeable future, CNBC cites from the video meeting.
Employees affected by these reductions can expect to receive notifications beginning this week. In 2023, Google announced eliminating 12,000 jobs, impacting around 6% of its full-time workforce, including the recruiting organization.
The employees staged a walkout at the company's London offices following a dispute over layoffs.
While Google has been implementing cost-cutting measures since the previous year, Alphabet reported a 7% increase in second-quarter revenue, surpassing analysts' expectations.
This time, the company aims to provide better support for affected employees by allowing them continued access to offices and online systems for extended periods.
This approach differs from previous layoffs when Google received criticism for abruptly revoking access for those who lost their jobs in January.
Given the decreased volume of recruiting requests, the company has decided to reduce the size of its recruiting team while still maintaining its focus on operational efficiency.
Price Action: GOOG shares closed higher by 1.05% at $137.50 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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