New Delhi: Alphabet, the parent company of Google, has initiated a round of layoffs within its global recruiting team, signaling a reduction in hiring efforts.
The move, disclosed on Wednesday, is not part of a widespread downsizing initiative and aims to retain a significant majority of the team, focusing on hiring for critical positions. Alphabet also intends to support affected employees in finding alternative roles, whether within the company or elsewhere.
Alphabet’s decision to trim its recruiting workforce follows in the footsteps of other major technology companies like Meta, Microsoft, and Amazon, which undertook significant downsizing efforts earlier in 2023. These moves were driven by the economic challenges brought on by the waning effects of pandemic-induced hiring sprees.
In January of the current year, Alphabet, headquartered in California, initiated a substantial workforce reduction, eliminating approximately 12,000 positions, amounting to a 6% reduction in its employee base.
The U.S. labor market has been witnessing a notable rise in layoffs, with August figures surpassing those of July by more than threefold and registering nearly four times the number compared to the previous year. This data, reported by employment firm Challenger, Gray & Christmas, underscores the ongoing shifts in the employment landscape.
Economists surveyed by Reuters had predicted an approximately 8% increase in new claims for state unemployment benefits during the week ending September 9th. This projection came after a previous week which saw a decline of 13,000 claims, bringing the total to 216,000.