Google among other tech companies are facing layoffs due to industry-wide changes
Employees don’t know what they’re gonna be without their jobs
Google has so far minimally impacted the U.S. jobs market since it escaped widespread layoffs in the tech industry in recent weeks, according to documents viewed by CNBC and anonymous Google employees.
Alphabet executives have stressed the need to focus on “clarifying our priorities and focus on execution, cutting costs, and being more efficient across all our business.” There is also a recent change in performance evaluations and some employees are seeing a decline in travel budgets and less swag as signs that something bigger may be coming.
In July, Alphabet CEO Sundar Pichai launched a “Simplicity Sprint” to help streamline the company during an uncertain economic environment. This week, about three miles away, Meta acquired Blink for $90 million.
It’s currently laying off 13% of its staff, or 11,000 employees, due to declining ad revenue. Last month saw the company announce a 20% cut in staff and this month saw the CEO of Twitter, Elon Musk, pull the plug on about half its workforce. In Silicon Valley, HP has also downsized recent layoffs.
said on Tuesday it plans to lay off 4,000 to 6,000 employees over the next three years. The company will also close 11 factories as part of a restructuring plan.
When you’re in tough times, your business will experience some difficulties. For example, Google’s business hasn’t been hit as hard as others recently but it has seen a decline in revenue because of potential changes to the economy and inflation rates. Last month, Google reported that its ad revenue had shrunk from a year earlier as the company reported its weakest period of growth in years excluding one quarter during the pandemic.
Even though FTX was one of the most popular coin exchanges, the market for them has fallen even further still due to their recent insolvency. This creates increased concern about contagion in the industry and many potential investors are no longer on board.
We respect the decision made by our client, but we would like to emphasise that this can only be the first of many changes they will implement.
With recent cuts that were announced around the edges of Google, it should come as no surprise that we’re not on the top of Mountain View’s list.
Google is cutting back and focusing on “AI first” projects. The company announced that it would be shutting down Google Stadia and shutting down Digital Marketplace, changing the name of its Area 120 in-house incubator to Google Startups, and cancelling the next generation of its beloved Pixelbook laptop.
In the wake of potential terminations, concerns about the future have been mounting. Some employees have turned to memes to express their anxieties with humor.
With our meme generator, you can create an animated scene with different characters at each side providing insight into a changing paradigm.
One of the most popular memes in recent news is actually a screenshot from a video that features prominent tech company names. These companies include Google, Microsoft, and Amazon. In the video, it’s presented to the audience that last week, activist investor TCI Fund Management called on CEO Sundar Pichai to cut salary and headcount through “aggressive action.”
After years of explosive growth and heady expectations, things have shifted for Google. Executives announced that there would be cuts – and no second thoughts about layoffs.
At a meeting last week, the question ‘Should we make sure there is enough staff to handle an increase in activities?’ received some of the highest ratings from staffers on Google’s internal question-asking system called Dory. There were also questions about executive mismanagement and potential layoffs.
“It appears that we added 36k full-time roles YoY, increasing headcount by about 24%. Many teams feel like they are losing headcount, not gaining it. Where did this headcount go? In hindsight, and given concerns around productivity, should we have hired so rapidly?”
Employees wanted to know more following the company’s most recent earnings call and comments from CFO Ruth Porat.
Headcount is an important metric. We collect headcount and spend data to help you make better decisions.
At the time of this earnings call, an email was sent to all employees of BigCommerce asking them to fill out a short questionnaire. Among the many questions in the email, some related to how they felt about reducing costs and halting bonuses.
Would you like to see your reviews instantly boost?
More and more traders are reporting that they’re experiencing stress levels leading to an increased possibility of employee dissatisfaction.
-Replace “performance reviews” with “reviews/evaluations.”
In July, Google said it was ditching long-held practice of handing out lengthy promotion packets. The company switched to a streamlined process it calls Googler Review and Development (GRAD), which is much shorter than its former process.
Google launched the GRAD system as a way to get employees regularly evaluated and provide them with feedback. The system also helps establish clear expectations and help employees move up in their career.
A new system said to lead to higher pay, but workers have taken issue with the change at a time when the company is looking for ways to cut costs.
The plan to overhaul the company’s performance management system has met with some resistance. The company decided to switch from using a program called Betterworks, which was meant to help evaluate employees and make sure they worked efficiently together, employees told CNBC. Executives claimed that instead of replacing Betterworks, they’d be using a home-grown tool at the end of the year, but it looks like there could be trouble in paradise.
Many employees say they’re seeing these performance evaluations, referred to as “Support Check-Ins”, in offices around the world. These reviews will tell employees that their current performance trajectory is headed towards, or already is, in a lower rating.
There are three steps recommended when having a check-in meeting with your team. The first thing is to “breathe,” which is an important step before taking in managers’ feedback. Next is “understanding” that feedback, and the third stage is to “devise a plan.” The document says these types of meetings affect 10% to 20% of your staff across the course of a year.
There’s a lot of concern about whether a lot of small changes will turn into anything in the future. Some worry that these efforts are only temporary or non-durable solutions.
CNBC reported last month that employees and executives clashed on the topic of cutbacks to things like swag, travel and holiday celebrations. The employees complained about a lack of transparency around travel cuts and asked why the company wasn’t saving money by cutting their salaries.
No one should have to experience the frustration of not being able to share a funny meme with their coworkers. Our memegen is a safe, fast and simple way to share your funny moments at Google while our engineering leaders crack down on employee access.
As reported by several tech news outlets, a recent change at Google indicates that workers will no longer be allowed to have a Memegen account on their profile. The policy change is aimed at preventing employees from potentially distracting one another with images they find funny.
Employees from various companies flocked to Memegen because they thought it was funny.