Last month, Alphabet announced a hiring freeze, making employees jittery as it continues. Senior executives in Google are telling their employees to “shape up”. It was revealed, by implying that layoffs may occur if the expectations are not met.
Additionally, according to the leadership team, the overall productivity in general and in sales will be evaluated. If the third quarter results don’t rise up, it is said that “there will be blood on the streets.” Recently Google launched “Simplicity Sprint” recently to increase efficiency and employee focus. It was during the macro uncertainties.
It is not only Google that is facing such challenges. Post COVID-19 situation, many companies continue to lay off employees. Last month, Meta Platform CEO Mark Zuckerberg stated that the company hiring target for engineers will be reduced to 6,000-7,000, which has been 10,000 till then.
CEO, Sundar Pichai acknowledged this in an all-hands meeting last month, about Google’s productivity. He said that the company productivity is nowhere close to the headcount, reflecting the macro environment uncertainties. According to Pichai, their focus will be on soliciting employee ideas to get better results faster. Recently, Pichai also stated plans for a slowdown in hiring and investment through 2023. Also asking employees to work with “greater urgency” and “more hunger” than shown on “sunnier days”.
“It’s clear we are facing a challenging macro environment with more uncertainty ahead,” Pichai said. Pichai further added, “There are real concerns that our productivity as a whole is not where it needs to be for the headcount we have. “. The search engine also announced a two-week hiring freeze last month, but so far it has not reversed its decision — prompting employees to fear the worst, according to Insider. Since Pichai’s comments, “everyone has been talking about the company tightening its belt,” one employee told Insider.
Facebook’s social media rival Twitter recently rescinded a job offer to a Palo Alto man as part of the San Francisco-based company’s cutting back on hiring. Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this year, citing a recent lag on growth and revenue targets. The company has been thrown into turmoil since Tesla CEO Elon Musk agreed to buy it for $44 billion, only to back out of the deal. Twitter is now suing Musk in an effort to enforce the terms of the agreement. While this is about major global tech firms, the other companies in other sectors are also facing similar challenges.