Google & Microsoft each laying off over 10,000 employees
The high-volume layoffs from big tech companies are still going, with Microsoft laying off 10,000, and Google axing 12,000 employees over the coming weeks.
![Google and Microsoft lay off employees after covid hiring surge](https://photos5.appleinsider.com/gallery/52571-105028-GM-xl.jpg)
Google and Microsoft lay off employees after covid hiring surge
After a surge in hiring during the pandemic, many companies in the tech sector are laying off employees in droves to counterbalance a slowing economy. Even Apple has announced a hiring slowdown as a result, though other companies are taking more drastic measures.
Google and Microsoft have shared that they intend to lay off 12,000 and 10,000 employees, respectively. The companies blame inflation and a return to normal conditions post-covid.
For Microsoft, this represents about 5% of the company's total workforce, according to a CNN report. The company will incur a $1.2 billion charge in its second quarter related to severance costs, lease consolidation, and hardware portfolio changes.
"We're living through times of significant change, and as I meet with customers and partners, a few things are clear," Microsoft CEO Satya Nadella wrote. "First, as we saw customers accelerate their digital spend during the pandemic, we're now seeing them optimize their digital spend to do more with less."
Google's reduction represents about 6% of its total workforce, according to a report from USA Today. Jobs being eliminated are being cut across Alphabet, product areas, functions, levels, and regions, according to a statement.
"This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I'm deeply sorry for that," Google CEO Sundar Pichai wrote in a blog post. "The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here."
These layoffs add to the growing list of other companies letting people go in droves. Amazon will lay off 18,000 people by the time it is done. Facebook expects a first round of 11,000 job cuts, and more are expected.
Read on AppleInsider
![Google and Microsoft lay off employees after covid hiring surge](https://photos5.appleinsider.com/gallery/52571-105028-GM-xl.jpg)
Google and Microsoft lay off employees after covid hiring surge
After a surge in hiring during the pandemic, many companies in the tech sector are laying off employees in droves to counterbalance a slowing economy. Even Apple has announced a hiring slowdown as a result, though other companies are taking more drastic measures.
Google and Microsoft have shared that they intend to lay off 12,000 and 10,000 employees, respectively. The companies blame inflation and a return to normal conditions post-covid.
For Microsoft, this represents about 5% of the company's total workforce, according to a CNN report. The company will incur a $1.2 billion charge in its second quarter related to severance costs, lease consolidation, and hardware portfolio changes.
"We're living through times of significant change, and as I meet with customers and partners, a few things are clear," Microsoft CEO Satya Nadella wrote. "First, as we saw customers accelerate their digital spend during the pandemic, we're now seeing them optimize their digital spend to do more with less."
Google's reduction represents about 6% of its total workforce, according to a report from USA Today. Jobs being eliminated are being cut across Alphabet, product areas, functions, levels, and regions, according to a statement.
"This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I'm deeply sorry for that," Google CEO Sundar Pichai wrote in a blog post. "The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here."
These layoffs add to the growing list of other companies letting people go in droves. Amazon will lay off 18,000 people by the time it is done. Facebook expects a first round of 11,000 job cuts, and more are expected.
Read on AppleInsider
Comments
Because profit comes before people in the end but I need to spew some platitudes to make it sound better. And this goes for all corporations, including Apple.
The reductions may be justified but the wording in the quote is likely to cause irritation.
As it should be.
The problem was that in some areas where they had factories, workers were the only members of families with jobs. Laying them off would have caused severe harm to the local communities so they kept them on.
Shareholders agreed with the policy.
"This will mean saying goodbye to some incredibly talented people (as Jack Welsh would have said: Give me the lemons) we worked hard to hire and have loved working with (what can we say - treat we were made a mistake and are happy to formally have a pretext to fire them?) . I'm deeply sorry for that," (so happy) Google CEO Sundar Pichai wrote in a blog post. "The fact that these changes will impact the lives of Googlers weighs heavily on me ( the weight of money - bonus, here I come), and I take full responsibility for the decisions that led us here." (I don‘t know what ist means, but I read it on the back of a machtlos and it sounded good)
https://www.macrotrends.net/stocks/charts/GOOGL/alphabet/net-income
https://www.macrotrends.net/stocks/charts/MSFT/microsoft/net-income
10,000 employees x $100,000 = $1b
This is why there needs to be work reform. These employees all help make the gains, which they don't get to share and at the slightest downturn they are let go with meaningless platitudes.
Companies didn't fool anyone when they raised prices while posting record profits, they're not fooling anyone now, this is corporate greed plain and simple. The billionaires love to remind everyone how much they care and how they are making the world a better place but if they see anything other than growth in their excess wealth, some of the poor people will have to be sacrificed.
Cool story we often hear from CEOs, but…how will they take full responsibility? Specifically? Do they bonus? Lose stock? Does their own compensation go into severance funds? Anything? Or just empty platitudes?
Does that warrant a "Kudos to Google for doing the right thing" from you?