California-based tech company Google, which recently announced a massive layoff of 12,000 employees in a blog post, announced the reasons in an online town hall held by senior employees.
According to CNBC, senior officials took several questions from employees and former employees about the layoffs and announced that the decision was made in a very structured and prioritized manner, and nothing was random.
“As a company of almost 25 years, we are forced to go through difficult economic cycles. These are important times to sharpen our focus, redesign our cost base, and direct our talent and capital toward our highest priorities,” CEO Sundar Pichai said in a blog post.
“I understand you’re worried about what’s next for your job,” Pichai told the town hall. “I am also saddened by the loss of some great colleagues in the company.”
Additionally, Sundar Pichai has also added that senior executives will also see pay cuts, including the company’s senior vice president. In addition, he also announced that the company will also see a significant reduction in its annual bonus.
Google’s vice president of security, Royal Hansen, said that “there are unusual risks that, frankly, we’re not that well versed in managing.” Employees had access to sensitive information, he said, so “even though it could have been a very low probability, we had to plan for the possibility that something could go horribly wrong.”
In addition, Sundar Pichai, in the blog post, announced the benefits that the US employees would get after their employment ends. Here are some of them:
In the United States:
1. We will pay employees for the entire notice period (minimum 60 days).
2. We will also offer a severance package starting at 16 weeks salary plus two weeks for each additional year at Google, as well as fast track at least 16 weeks of GSU intake.
3. We will pay 2022 bonuses as well as any unused vacation time.
4. We will provide 6 months of health care, job placement services and immigration assistance to those affected.
5. We will support employees outside the United States in accordance with local practices.
Since the start of the layoffs, technology companies have been the main contributors. Google, Microsoft, Swiggy and Wipro have laid off some employees in dramatic fashion.
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