Tag Archives: workers

Alphabet CEO Sundar Pichai announced layoffs Friday affecting 12,000 positions at the Google owner. Some employees who earned as much as $1 million were also cut, The Information reported. Pichai told staff in a memo that he took “full responsibility for the decisions that led us here.” … Source link

Sundar Pichai, CEO, Alphabet Lluis Gene | AFP | Getty Images Google’s parent Alphabet is eliminating about 12,000 jobs, or 6% of its workforce, the company said Friday, in the latest cuts to shake the technology sector. Sundar Pichai, Alphabet’s CEO, said in a staff memo shared with Reuters that the company had rapidly expanded headcount in recent years “for a different economic reality than the one we face today.” “I take full responsibility for the decisions that led us here,” he said. The cuts… Source link

By Jeffrey Dastin (Reuters) – Google’s parent Alphabet Inc is cutting about 12,000 jobs, or 6% of its workforce, it said in a staff memo Friday, as the technology sector reels from layoffs and companies stake their futures on artificial intelligence (AI). Alphabet’s shares were up nearly 4% in morning trade. The cuts come at a delicate moment for the U.S. company, which has long been the leader in key areas of AI research. Alphabet now faces a challenge from Microsoft Corp in a branch of tech… Source link

Updates with clarification from VK source. Russian tech giant VK Group is demanding its employees based abroad return to the country as lawmakers consider a legal ban on remote work, investigative media reported Thursday, citing sources familiar with the matter. The government estimates that 100,000 IT workers — or 10% of the nation’s tech workforce — have left Russia since the invasion of Ukraine and a “partial” mobilization of reserves last year, though some 80,000 IT… Source link

BlackRock (BLK), the world’s largest asset manager, will lay off about 500 employees — or roughly 3% of its workforce — according to an internal email seen by Yahoo Finance. The investment giant joins a growing number of Wall Street firms trimming their headcount after last year’s market rout and as Corporate America ramps up hiring freezes and job cuts. “This week, after meaningful headcount growth in recent years, we are making some changes to the size and shape of our workforce,” CEO… Source link

A provision in President Biden’s new legislation aims to keep workers from cashing out their 401(k) when they move from one job to another, building on a similar effort launched last year by the private sector. The legislation paves the way for employer retirement plans to provide automatic portability services, so funds can be transferred seamlessly into a new employer plan unless the worker opts out. It also increases the limit for automatic rollovers from $5,000 to $7,000. That follows a… Source link

When Tampa Bay leaders talk about luring tech talent here, the type of person they’re picturing is Kan Kotecha. Kotecha is a former vice president of corporate engineering at Google; before that he was head of investment product technology at Morgan Stanley. This summer, looking for a change at a smaller company, he became chief technology officer at Tampa startup Gale Healthcare, which aims to tackle the health care worker shortage by acting as sort of an Uber for nurses looking to pick up… Source link

(Photo via Smith Collection/Gado/Getty Images). Getty Images Key Takeaways Rumors are swirling that Alphabet may be the next big tech company to layoff workers, following the lead of Meta, Amazon and many others. It comes as Google faces revenue pressure from falling advertising revenue and an economic outlook which is likely to exacerbate the issue. Alphabet executives have made multiple comments about increasing efficiency and focus. For investors, it’s another example of the… Source link

Amazon (AMZN) is preparing to lay off roughly 10,000 employees as soon as this week, The New York Times reported on Monday, citing unnamed sources familiar with the matter. The layoffs come as the tech industry continues to struggle amid a slowing economy, rising interest rates, and stubborn inflation. Facebook parent Meta and Twitter also laid off thousands of employees this month. The layoffs will impact Amazon’s Alexa business, as well as the company’s retail and human resources… Source link

Business sectors ranging from agriculture and manufacturing to automotive and financial services are increasingly turning to artificial intelligence as a means to automate large swaths of their organizations—and, along the way, save enormous sums through improved efficiencies. But, says ‘Megathreats’ Author and NYU Stern School of Business professor Nouriel Roubini, the rise of AI will also have a massively negative impact on workers throughout the economy. AI has helped revolutionize… Source link