Sundar Pichai, head of American tech giant Google Inc said on Wednesday that he is aiming to increase efficiency in the tech giant company by at least 20%. In order to achieve a high level of efficiency, the company will take several measures which might also include job cuts. Pichai was speaking at a Code Conference in the city of Los Angeles when he made the statement regarding the growth of Google and job cuts.
Sundar Pichai who was born and brought up in India joined Google in 2004. He became chief executive officer of Google and its parent company Alphabet in 2015.
This is not the first time Sundar Pichai is mentioning the possibilities of lay-offs and cutbacks in hiring numbers. A few months ago, in a meeting with staff at Google, Sundar Pichai mentioned the need to increase productivity inefficiency in the working of the company.
On Wednesday, Pichai said that the company should increase its efficiency in order to keep up with the uncertainty in macro Economic conditions which is currently prevailing.
He also mentioned how Google became slower once there was an increase in headcount.
According to Pichai, with fewer resources in hand, the top management of Google is trying to make sure that the resources are streamed into avenues which can assist the company in improving productivity.
During the conference, he also said that competition in the tech market was increasing day by day. The advent of TikTok and its increasing popularity among youth and middle-aged population have definitely increased competition in the tech sector, Pichai said. The increasing popularity of TikTok and such entertainment apps have even impacted the performance of large tech companies such as Google and Meta.
The coronavirus Pandemic and the Russian military operation in Ukraine have caused widespread disruptions in global economic conditions. Concerns of global economic slowdown and Possibilities of recession in major economies severely impacted the advertisement revenue of tech giants.
Google, which has been one of the largest beneficiaries of the advertisement market in the world witnessed its revenue and income tumbling down. This led to severe shortcomings in the growth projections of the tech giant.
Google had earlier kicked off an internal program named ‘Simplicity Sprint’ in which employees can suggest ways in which the tech company can increase efficiency and productivity. This was soon after releasing the second quarter results of Google which showed consecutive slower than expected growth.