Google ₹17,500 Crore Restructuring: 12,000 Employees Laid Off

Google faced ₹17,500 crore in severance costs in 2023 layoffs, impacting 12,000+ employees. Recent data reveals an additional $700 million spent on severance for 1,000+ roles. Alphabet, Google’s parent company, disclosed these details in its Q4 earnings release.

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Alphabet’s Historic Workforce Reduction: 12,000 Jobs Cut, CEO Pichai Deems it ‘Essential’

In January 2023, Alphabet, Google parent company, revealed intentions to eliminate 12,000 jobs, constituting 6% of its worldwide workforce. This marked the largest layoff in Google’s history. CEO Sundar Pichai characterized it as ‘essential’ for the company’s strategy.

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Alphabet Records Strong Double-Digit Revenue Growth in Q4

Alphabet, Google’s parent company, experienced substantial double-digit revenue growth in the final quarter of the previous year.

This surge was fueled by the performance of YouTube and the cloud computing unit.

Alphabet’s 3rd Consecutive Revenue Surge: Google Ads Resilience Amid Pandemic Challenges.

Alphabet’s Tuesday announcement revealed a third consecutive quarter of rising revenue, led by Google’s search and advertising prowess. Despite a pandemic-induced ad revenue dip, Google’s recovery is noteworthy.

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However, while Google’s ad sales demonstrated growth, it lagged behind increases in other areas, such as cloud computing and YouTube subscriptions.