Today, Google’s parent company Alphabet Inc. announced that it would be cutting 12,000 jobs in its largest ever round of layoffs. This will represent a 6% reduction in its global workforce.
In a memo sent to staff, CEO Sundar Pichai said that the layoffs were necessary due to the economic downturn caused by the coronavirus pandemic. He added that the company will be providing generous severance packages to those affected.
The layoffs will be effective immediately, and will affect employees in all departments and countries.
Google’s decision to reduce its workforce comes amidst a growing trend of tech companies cutting jobs to reduce costs. Other major tech companies such as Microsoft and Apple have also recently announced job cuts.
The news has been met with some criticism, with some arguing that companies should be doing more to protect jobs during the pandemic.
For more information about Google’s layoffs, view full coverage on USNN.
Interest Rates: What Trump’s Latest Comments Mean for Investors – CNBC
San Francisco, CA – President Trump’s recent comments on interest rates have sparked conversations and concerns among investors and economists. Trump’s vocal stance on interest rates has led to fluctuations in the bond market and raised questions about the Federal Reserve’s independence. Following Trump’s public demand for lower interest rates, the dollar fell, and Treasury yields dipped as investors processed the implications of the President’s remarks. While some believe lower rates could stimulate the economy, others worry about the potential impact on inflation and financial ... Read more