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Google set to execute new layoffs in a bid to cut costs

In this post:

  • Google has announced that it will cut a few more jobs while restructuring some of its teams.
  • Other tech giants announce layoffs.

Industry giant Google has announced a fresh round of layoffs in a bid to cut costs. According to a report from Reuters, the company is laying off some members and restructuring some of its team. The major layoffs will affect staff in the company’s real estate and finance departments. The company is axing employees who work in the treasury, business services, and revenue cash operations of the finance department.

Google set to cut more jobs amid restructuring moves

In an email to staff, the finance chief at Google Ruth Porath wrote that the company is looking to set up growth hubs in locations like Bangalore, Dublin, and Mexico City. This new development is in line with the company’s plans for restructuring. A spokesperson for Google confirmed that the layoffs are not across its global workers and employees affected could apply for internal roles. However, Google failed to disclose the total number of employees that were affected or the teams it is restructuring.

In the report, the spokesperson noted that some of the members would be relocated to these key hubs across the globe. The company is set to increase investments in specific areas worldwide, setting up shop in India, Chicago, Atlanta, and some other strategic locations. The report noted that teams across the company had changed since 2023 up till now to increase their efficiency and assign resources to the biggest priorities.

Other tech giants announce layoffs

This recent development is coming after a few layoffs at the firm earlier this year. Google announced the sack of specific employees including engineering hardware and assistant teams as it looked to focus on building the capacity of its artificial intelligence (AI). Its sister company Alphabet, through its CEO Sundar Pichai, noted that more jobs within Google will be affected. He noted that the firm was looking to create investment capacity, hence the need to make tough choices.

Apple announced the layoffs of about 600 employees at the beginning of this month in its self-driving cars and smartwatch screen teams. The layoffs became necessary after the company axed both programs. Amazon Web Services also cut some jobs as a part of its broader efforts to help its parent company. The company laid off more than hundreds of employees across several departments last month.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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