{"id":1241894,"date":"2023-01-23T11:57:35","date_gmt":"2023-01-23T06:27:35","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1241894"},"modified":"2023-01-23T12:01:19","modified_gmt":"2023-01-23T06:31:19","slug":"google-fires-12000-employees-in-an-unexpected-move-check-severance-package-bonuses-more","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/google-fires-12000-employees-in-an-unexpected-move-check-severance-package-bonuses-more\/","title":{"rendered":"Google Fires 12,000 Employees In An Unexpected Move: Check Severance Package, Bonuses & More"},"content":{"rendered":"\n

In a note <\/a>to its employees Google CEO Sundar Pichai has said the company is cutting about 12,000 jobs as it faces “a different economic reality”.<\/p>\n\n\n\n

\"Google<\/figure>\n\n\n\n

Economic slowdown<\/strong><\/p>\n\n\n\n

The job cuts affect 6% of its workforce, and follows thousands of layoffs at tech giants who are downsizing after a pandemic-led hiring spree.<\/p>\n\n\n\n

The IT sector is beleaguered by several challenges, such as rising interest rates and inflation over the past year that have impacted technology shares and forced advertisers to cut back on online ad spending.<\/p>\n\n\n\n

This bleak macroeconomic climate has put pressure on tech cos to make deep cuts to their workforces.<\/p>\n\n\n\n

More questions than answers<\/strong><\/p>\n\n\n\n

The latest move comes after reports said the firm was deferring <\/a>a portion of employees\u2019 year-end bonus checks until March or April instead of paying them in full in January.<\/p>\n\n\n\n

While employees had been bracing for a potential layoff, they are seeking answers as to what the criteria for layoffs, which surprised some employees who woke up to find their access to company properties cut off, are. <\/p>\n\n\n\n

There is confusion and distress since some of those booted had been long-tenured<\/a> or recently promoted.<\/p>\n\n\n\n

The note further read that the layoffs will begin in the U.S. immediately, whereas in other countries the process \u201cwill take longer due to local laws and practices.\u201d  <\/p>\n\n\n\n

Compensation<\/strong><\/p>\n\n\n\n

It will offer U.S.-based employees 16 weeks of severance pay plus two weeks for each additional year they\u2019ve worked at Google, Pichai added.<\/p>\n\n\n\n

Employees in Asia will learn starting in February <\/a>if the reduction impacts them.<\/p>\n\n\n\n

The job losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams.<\/p>\n\n\n\n

Focus on AI<\/strong><\/p>\n\n\n\n

Google and Microsoft have been investing in AI big time, more specifically generative AI.<\/p>\n\n\n\n

Pichai wrote, “I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI.”<\/p>\n\n\n\n

He further commented, “we\u2019re getting ready to share some entirely new experiences for users, developers and businesses, too. We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”<\/p>\n\n\n\n

Following other major firms<\/strong><\/p>\n\n\n\n

Google is just the latest to join the string of high profile companies announcing mass layoffs.<\/p>\n\n\n\n

On Wednesday, Amazon began a fresh wave of job cuts affecting more than 18,000 people. <\/p>\n\n\n\n

That same day, Microsoft announced plans to lay off 10,000 workers.<\/p>\n\n\n\n

Twitter cut over half of the company\u2019s headcount since Elon Musk took over.<\/p>\n\n\n\n

Employees\u2019 entitlement<\/strong><\/p>\n\n\n\n

For US employees the following will be provided, as the note reads:<\/p>\n\n\n\n