Mountain View, California Sep 14, 2023 (Issuewire.com) - The world is currently seeing one of the biggest layoffs and slow hiring where tech companies are leading the pack. Now joining this ongoing "trend" the parent company is Google, Alphabet is on the news for laying off hundreds of employees from its Global Recruitment team, as it was reported on Wednesday. However, it was also reported that this decision by Alphabet is not a part of them officially entering the worldwide wide-scale layoff situation. The company will retain a notable number of employees from the same team to hire for critical roles. His decision will help employees seek other opportunities, both elsewhere and within the company.
With this decision, Alphabet became the first "big-tech" company of this quarter to lay off employees after other big shots in the industry like Amazon, Microsoft, and Meta were in the news for aggressively laying off workers earlier this year. According to companies and other tech giants, these forcible layoffs were due to the poor economy putting an end to their hiring spree that was led by the pandemic.
In March of this year, Amazon announced that it has plans to cut out jobs from its cloud services, Twitch units, and advertising. The CEO announced via a memo that around 9000 jobs will be cut just after weeks of laying off around 18,000 employees. Similarly, Meta, the owner of Instagram and Facebook, also laid off around 10,000 employees in March, calling it a year of efficiency, as it reduced roughly 13% of its workforce. Alphabet was also part of this as the company earlier this year cut about 12,000 jobs in January, which reduced their workforce by around 6%.
Layoffs in the world, especially in the U.S. have become a common thing. The report from an employment firm, Challenger, Gray & Christmas, shows that it rose more than threefold in August from July which is around fourfold compared to last year. There was also a forecast by the economist polls on Reuters that the unemployment benefits would rise around 8% in the previous week, right after falling 13,000 to 216,000 in the prior week.
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