In a significant move, Google has announced it will be letting go of 12,000 employees, yet it remains optimistic about fostering advancements in AI technology.
In Brief
The technology industry is currently facing a significant downturn.
Sundar Pichai, the CEO of Google, reached out to all employees today with an open letter addressing this tough decision.
In a hard-hitting measure, Google decided to let go of 12,000 of its staff members.
Pichai expressed a sense of hope regarding Google’s trajectory despite the layoffs.
It’s certainly a tough moment for tech companies, as evidenced by Microsoft’s recent announcement regarding the reduction of its workforce, impacting a considerable number of employees. second wave of layoffs Layoffs have been sweeping through the tech sector, with Google similarly affected by these changes.
Google found itself in the unfortunate position of needing to downsize its workforce. This was a tough call but deemed essential to persist in innovation and expand into new sectors like artificial intelligence. lay off 12,000 employees Google is trimming down its workforce by 12,000 employees, yet it pledges continued progress in AI initiatives.
| Related news: Earlier today, Sundar Pichai shared an open letter detailing this challenging situation with all Googlers. |
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Due to the ongoing economic uncertainties, we are compelled to make some challenging choices to position ourselves for future success.
Pichai noted that the company had significantly invested in emerging sectors such as cloud computing and AI while managing costs prudently over the recent years.
he continued
"This morning, we're announcing organizational changes that will lead to approximately 12,000 full-time roles being eliminated worldwide,\" wrote Pichai. \"This decision was not made lightly, and we sympathize with those affected.\"
Crypto.com has seen job cuts, impacting around 20% of its workforce.
| Related news: The layoffs will touch every department, though Pichai highlighted a particular focus on reducing contractor and vendor numbers. |
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"We are not proceeding with this lightly,\" he added. \"However, these measures are essential to align our size and focus on future products and services.\"
Even with the job cuts, Pichai remains positive about Google's trajectory. For the company, AI represents the future, and it is joined by many other tech firms making substantial investments in this field.
According to CB Insights, this year the metaverse has been dubbed the 'loser of the year', whereas AI has emerged as the clear champion. Microsoft eMarketer forecasts that the next unicorn with a valuation surpassing $100 billion will likely be a generative AI startup.
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