Google has officially announced layoff news, confirming that 12,000 people will be laid off. Microsoft also announced the layoffs of thousands of employees. Here’s the full story for 10 points.
Google and Microsoft announced the layoffs of thousands of employees last week. 2022 is going to be a very tough year with many big tech companies laying off employees to cut costs, and 2023 is off to a good start with mass layoffs across the industry. Amazon laid off 18,000 employees and Meta laid off 11,000 employees. Rumors that Google plans to downsize have long been in the news, but the company has denied it. We have officially announced the news. Microsoft did something similar. Here’s the full story for 10 points.
- Google CEO Sundar Pichai announced in a blog post that the company is ready to lay off 12,000 employees. He also revealed that people staying in the US have already received dismissal emails, basically suggesting that Google has already started the process. Layoffs take place all over the world.
- The CEO blames the recession for the layoffs, but also apologized for his decision, saying it was a tough one as well. “Your contribution has been invaluable and we appreciate it,” Pichai said.
- Google has confirmed that headcount reductions at Google will be across alphabets, product areas, features, tiers and geographies. The tech giant underwent a rigorous review of all product areas and features to ensure people and roles were aligned with its top priorities.
- Google’s CEO promised to provide a retirement package that includes 16 weeks salary, 2 weeks for every additional year at Google, and at least 16 weeks of HSE vesting. Google will also pay bonuses and remaining paid vacation in 2022. Other perks include her six months of medical care, employment and immigration support for those affected.
- Pichai confirmed that the company will host his Town Hall meeting on Jan. 22 to answer questions about how Google is proceeding with the layoffs. He also announced that affected employees will be able to work from home as a result of the news.
Similarly, Microsoft decided to lay off 10,000 employees. This is as the tech giant braces for slowing revenue growth. The company has confirmed that it is making changes that will reduce its total workforce by 10,000 by the end of the third quarter of 2023. This basically means that Microsoft has no plans to fire everyone at once. But it started the dismissal process.
His 10,000 employees Microsoft is laying off are less than 5% of his total workforce. The plan is to make the termination process completely “transparent” and easier for employees.
Microsoft has announced that it will make severance packages available to affected employees. According to official announcements, U.S. residents enjoy a wide range of benefits, including above-average retirement benefits, six months of health insurance, six months of stock award exercise, career transition services, and a 60-day notice period before dismissal. was revealed to receive whether such termination is required by law; As for other markets, the company said its non-U.S. employee benefits are consistent with local labor laws.