Google Layoffs: Check Out How Much Google Is Giving To Its 12000 Laid-Off Workers – Google parent Alphabet Inc (GOOGL.O) said in a staff memo Friday, January 20, 2023, that it is cutting about 12,000 jobs.
The affected employees are about 6% of its workforce, and this is because Google wants to stake its future on artificial intelligence (AI).
The layoffs come at a critical time for the American company, which has long been a leader in key areas of AI research.
Alphabet is now competing with Microsoft Corp (MSFT.O) in a field of technology that can, for example, create virtually any content a user thinks up and types into a text box.
After a Microsoft-backed startup, OpenAI released a chatbot known as ChatGPT that can answer queries with human-like responses, industry observers predicted that so-called generative AI would put Google’s dominance in an internet search to the test.
Sundar Pichai, Google’s CEO, announced the news in an email to employees.
In the email, he stated that the tech giant will help employees find new jobs and that he accepts full responsibility for the decisions that led us here.
Employees in the United States of America will be paid for the entire notice period, and the company will accelerate at least 16 weeks of Google Stock Unit vesting and offer a severance package beginning with 16 weeks of salary plus two weeks for each additional year of employment with Alphabet.
Furthermore, the company will pay employees in the United States for the entire notice period.
In addition to paying 2022 bonuses and unused vacation time, Alphabet will provide six months of healthcare, job placement assistance, and immigration support to those affected by the job cuts.
According to regional customs, the search engine giant will support employees outside of the United States.
According to a company spokesperson who spoke to Reuters, eligible employees will receive an 80% advance bonus up front and the remaining 20% over the course of several months. According to a previous Reuters report, Google is deferring a portion of its employees’ year-end bonuses as part of the transition to a new performance management system.
Source: www.ghgossip.com
