Google Faces Billions in Losses, Mass Layoffs Rumored

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Adi Ahdiat 24/11/2022 12:20 WIB

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According to a report by The Information, Google plans to lay off 10,000 underperforming employees in early 2023.

Google Parent Company's Revenue, Expenses, and Profit for January-September (2021-2022)

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Google Parent Company's Revenue, Expenses, and Profit for January-September (2021-2022)

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Google's parent company, Alphabet Inc., experienced a multi-billion dollar drop in profit this year.

According to its official financial report, in the January-September 2021 period, Alphabet Inc. achieved a net profit of US$55.39 billion. However, in the January-September 2022 period, its net profit fell to US$46.34 billion.

Cumulatively, in the first nine months of this year, Alphabet Inc.'s net profit decreased by approximately US$9 billion, or 16%, compared to the same period last year.

Although its revenue increased, Alphabet Inc.'s net profit shrank this year due to swelling expenses, as shown in the graph.

Amidst this situation, Google is rumored to be conducting mass layoffs of underperforming employees.

"According to reports from the technology news site *The Information*, Google will lay off 10,000 employees in early 2023," said *Forbes* on Wednesday, November 23, 2022.

"So far, Google has not confirmed the rumored layoff plan," *Forbes* continued.

While this issue remains unconfirmed, the trend of mass layoffs is indeed occurring in several giant technology companies, such as Meta, Amazon, and Twitter.

According to data from *Layoffs.fyi*, in November 2022, Meta, the parent company of Facebook, Instagram, and WhatsApp, laid off 11,000 employees.

In the same month, Amazon laid off 10,000 employees, and Twitter terminated 3,700 of its workers.

"Google, like many other large technology companies, experienced rapid growth since the pandemic. But, as inflation and interest rates soared, advertisers cut spending and experts talked about the potential for a recession. In this situation, many companies realized they were overstaffed," said *Forbes*.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Google Faces Billions in Losses, Mass Layoffs Rumored

Google Faces Billions in Losses, Mass Layoffs Rumored

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