Google’s parent firm is now feeling the pressure to halt its hiring process after it reportedly went on a hiring spree.
At least 37,000 employees were taken on board by the company in the past year alone. And as you can imagine, the firm’s current report shows slow growth and the current state of the economy is definitely not helping. The company has also been forced to reduce its spending on advertising, it confirmed.
CEO Sundar Pichai was recorded as stating how his company’s goal is to make sure those hired are working on tasks that the company values the most at this moment. And that’s exactly what their current focus is all about.
The messages were delivered to stakeholders by the CEO through a press call. Moreover, he could be heard reiterating how many projects were currently under review and how the firm was making some great plans with the right forms of resourcing to correct past mistakes. This is not a one-time ordeal but one that it hopes would be ongoing.
Reducing the costs linked to employees is another factor worth a mention because the economy is in a downturn and seeing such disappointing results arise financially for Q3 is not a great feeling. Now, the pace at which hiring is going to occur will be cut back as well as other incentives provided to them like travel benefits or even team offsites.
All of the CEO’s issues that he’s having with the company are being documented well and a lot of emphases was related to the company’s headcount. The report comes after he last heard Pichai mention at another meeting during the year’s start how there were some major concerns he was having linked to productivity. He felt the organization just is not where it should be, considering the great workforce it has.
But that does not seem to be the firm’s biggest issue that’s holding it back. Ever since 2022 began, the firm reported mega losses accounting for $4.5 billion thanks to Other Bets. It’s a firm that Alphabet called one of its own divisions that control other small-stage projects arising during their early stage.
So as you can see, it makes sense why slowing down the hiring of a workforce this big is actually the smartest move that can be implemented at this stage.
Photo: Wiki/Sg54sg
Read next: Creators Say They Feel Taken Advantage Of By Large Apps And Their Associated Algorithms
At least 37,000 employees were taken on board by the company in the past year alone. And as you can imagine, the firm’s current report shows slow growth and the current state of the economy is definitely not helping. The company has also been forced to reduce its spending on advertising, it confirmed.
CEO Sundar Pichai was recorded as stating how his company’s goal is to make sure those hired are working on tasks that the company values the most at this moment. And that’s exactly what their current focus is all about.
The messages were delivered to stakeholders by the CEO through a press call. Moreover, he could be heard reiterating how many projects were currently under review and how the firm was making some great plans with the right forms of resourcing to correct past mistakes. This is not a one-time ordeal but one that it hopes would be ongoing.
Reducing the costs linked to employees is another factor worth a mention because the economy is in a downturn and seeing such disappointing results arise financially for Q3 is not a great feeling. Now, the pace at which hiring is going to occur will be cut back as well as other incentives provided to them like travel benefits or even team offsites.
All of the CEO’s issues that he’s having with the company are being documented well and a lot of emphases was related to the company’s headcount. The report comes after he last heard Pichai mention at another meeting during the year’s start how there were some major concerns he was having linked to productivity. He felt the organization just is not where it should be, considering the great workforce it has.
But that does not seem to be the firm’s biggest issue that’s holding it back. Ever since 2022 began, the firm reported mega losses accounting for $4.5 billion thanks to Other Bets. It’s a firm that Alphabet called one of its own divisions that control other small-stage projects arising during their early stage.
So as you can see, it makes sense why slowing down the hiring of a workforce this big is actually the smartest move that can be implemented at this stage.
Photo: Wiki/Sg54sg
Read next: Creators Say They Feel Taken Advantage Of By Large Apps And Their Associated Algorithms
