Why did Google warn their employees about layoffs? | Now there is trouble with the jobs of people.

 

Why did Google warn their employees about layoffs?

The fear of recession is haunting everyone in the country and the world. Everyone is engaged in taking all measures to avoid it. A recession is such a situation that no one can remain untouched by it even if they want to. The world has faced recession before. Be it the great depression or the global recession of 2008, everyone is well aware of its frightening situation. 

Now you must also be saying that everything is going well, then why this negative news is coming? Let us tell you that due to the fear of recession in the country and the world, big companies have become cautious. They are controlling their expenses. The same few are contemplating all their cost-cutting measures. Recently, Google, which was included in the list of the world's most valuable companies, surprised everyone with its statement. 

Google said that if the company's performance does not improve in the coming time, then such a layoff will be done that there will be chaos. Let us explain to you in detail why this situation is happening. Alphabet provides its services worldwide under the name of the Google brand. The revenue of Alphabet, the company that runs Google, has been weakening for some time now. The company is also not showing any good performance in growth. 

Alphabet's June 2022 quarter results were also not up to the mark. The company's revenue in the June quarter stood at $59.69 billion. At the same time, Google's revenue growth was 13%. Talking the company's ad revenue, it was $56.3 billion, which saw year-on-year growth of 12%. The growth of the company was more than expected. Due to the increase in inflation, the company also reduced the expenses on its ads, which has a direct effect on its revenue from Google company. 

Google's earnings from YouTube are also declining. The performance of Google's YouTube division is also growing at the rate of 5%, which is considered slow. The performance of Google's Google Cloud for the past few months is also not good. The company's CEO Sundar Pichai was also unhappy with the performance of his employees this month. According to him, Google's products are not working according to their capacity, or rather they are working less. 

Sundar Pichai has asked his employees to work under mission mode. The senior management of the company is also agreeing with the point of its CEO. They are asking everyone to be ready for layoffs. He believes that if the company's performance does not improve in the coming quarter, there will not be good for employees. That is, it will have to be trimmed in such a way that no one will be able to escape from it. 

Let us tell you that Google Edition is a company of 1.56,00,000 crores. Its stock was split recently with a margin of 20-30. Due to this, the price of Mumbai shares has come down from $2200 per share to $110 per share. Tech companies have been grappling with challenges for a long time. Its effect has also been seen in the shares of Google. Google's stock has seen a decline of 12% in one year. At the same time, the American Nasdaq Index has fallen up to 26% so far this year.

However, the number of full-time employees in Alphabet at present is 1,74,014. It is worth noting that Google is not the only company that has started talking about new job breaks and layoffs. Mark Zuckerberg, CEO of Facebook's parent company Meta, is also included in this list. Mark Zuckerberg has already said that underperforming employees will be thrown out. Twitter CEO Parag Agarwal has also announced to stop new hiring keeping in mind the revenue target.

Now there is trouble with the jobs of people:

Business is going through a bad phase at this time in the country and abroad. The risk of an economic recession is beginning to increase in the world. Inflation everywhere is breaking records over the last several years. Now people are getting double hit. On the one hand, people have no money left to spend. On the other hand, his job is also going away.

In many countries, even the withdrawal of money has been banned in banks. The latest case is related to the Chinese company Alibaba. Alibaba is the largest e-commerce company in China. Alibaba has decided to lay off 10,000 employees. So let's understand the whole matter, what is the reason that all the big MNCs of the country and the world are firing people out of jobs in an instant?

Chinese commerce company Alibaba has decided to lay off 10,000 employees due to sluggish sales and a slow economy in China. Alibaba is constantly reducing the number of its employees and people are also leaving it. The data shows that in the June quarter of last month, 9,241 people left the company. The poor performance of the company in its past is also being considered.

Alibaba reported a 50% drop in its profit in the June quarter to $3.4 billion, or $27,000 crore. Let us tell you that Alibaba is a company with a B2B portal i.e. Business to Business in China. Any person can list his business on this commerce website. Alibaba was started on April 4, 1999, and is now the world's largest business-to-business portal.

In this people can join to grow their business. In this, people get all the products at a cheap price by buying goods in bulk quantity. Jack Ma is the owner of Alibaba and this photo is the owner of four billion dollars i.e. 35,000 crores. The same Wal-Mart is cutting about two thousand jobs. That is, the corporate is eliminating jobs in the private sector.

Walmart and these companies argue behind this that the cost of the company is increasing and there is also a gap in the demand-supply in the market. People are not saving money due to inflation, so they are limiting their spending. Due to this, there is a decrease in the demand in the market. Because of this companies are adopting new methods of cost-cutting.

However, Walmart is removing those employees. He is attached to the delivery and merchandise department. Walmart has also clarified its decision. In the email, Walmart said that the company is updating its structure and this step has been taken for the company's strong future and growth. Let us tell you that these companies are not small. Walmart is the largest retail company all over  the world.

Walmart employs 1.6 million people in the US. It has more than 1 lakh management and professional workers, so the news of cost-cutting brings an atmosphere of despair among the common people and people feel motivated. Let us tell you that this is not a new case of retrenchment of employees. Even before this people have lost their jobs in a second.

In the past, 1 lakh people were fired from their jobs. Amazon is also a major US MNC company that works in the field of e-commerce cloud computing. In this, the removal of 1 lakh people from the job was the news of the biggest layoff ever. This trend of getting fired from the job is also being seen in other sectors. Ford Motor, a big company in the automobile sector, had fired about 8000 people from their job. 

Mark Zuckerberg's company Meta Platforms is also not behind in this matter. I have also announced a 30% reduction in my new vacancy. At the same time, those who dream of doing a job at Google are feeling disappointed, because Google's vacancy is not coming for some time. 

In such a situation, inflation is at its peak on one hand. And people are losing their jobs. Now it has to be seen that when there is a turn in the global economy the general public can get some relief. We hope you like the article. If you have any questions, please comment on our site www.tradeipohub.co.in. Thanks for reading.