Google Cutting 12,000 Jobs

GoldenGlove

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www.theverge.com

Google cuts 12,000 jobs in latest round of big tech layoffs

Google needs to focus on key areas like AI, says Sundar Pichai
www.theverge.com www.theverge.com

Google is cutting approximately 12,000 jobs — the latest technology firm to initiate significant layoffs as inflation rises and global markets brace for a downturn.
Google SEO Sundar Pichai announced the cuts in an email to staff on Friday and a blog post. The job losses constitute around 6 percent of Google’s global workforce, compared to recent layoffs at Microsoft (10,000 jobs or 5 percent of the workforce), Amazon (18,000 jobs / 6 percent), and Meta (11,000 / 13 percent). Earlier this month, Google’s parent company Alphabet announced much smaller cuts at Verily, its health-focused subsidiary, and Intrinsic, a subsidiary developing software for industrial robots.
In his blog post, Pichai said the layoffs marked a moment to for the company to “sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities.” The CEO noted that artificial intelligence would be a key area going forward.
“I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI,” said Pichai. “To fully capture it, we’ll need to make tough choices.”
Although Google made significant early leads in AI with investments like its 2014 acquisition of research-focused AI lab DeepMind, the the company has been wrong-footed in recent months by more daring rivals like OpenAI, which launched its buzzy AI chatbot ChatGPT on the web last year. OpenAI has forged a deep partnership with Google rival Microsoft, with the latter promising to integrate its AI tech into products like search and office software.
In Google’s earnings report last October it announced revenue of $69 billion and profit of $13.9 billion; marking growing revenue (up from $65.1 billion the previous year) but shrinking profits (down from $18.9 billion the same quarter in 2021). Earlier last year, Pichai signaled that the company would be slowing down on hiring, saying Googlers would have to work with “greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days.”
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Read the bolded

It's not a coincidence @Gizmo_Duck
 
Fatboi1

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Smh looking at GOOG running today in the market after I just seen a contract run up 1200% that I was in and got stopped out of is pissing me off. :francis: shyt had tons of open interest and volume last week. This irking me.
 
MrRDU

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What does Google cutting jobs mean for the avg person? I see if you are in the market but otherwise what does that do for me?
 
gurf

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:childplease:

What’s this have to do with Microsoft mismanaging 343? Y’all sound like trump fans.

“But what about Biden” ass nikkas
 
Gizmo_Duck

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gurf said:
:childplease:

What’s this have to do with Microsoft mismanaging 343? Y’all sound like trump fans.

“But what about Biden” ass nikkas
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They feel vindicated other companies are doing layoffs while ignoring MICROSOFT XBOX STUDIOS still being highly incompetent and dropping the ball on their biggest IP :snoop:

It really is a miracle they were able to buy Bethesda cause it would be grim out here otherwise. But yes, amazon and google doing massive layoffs also mean they should buy major companies as well apparently
 
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