Googles Layoffs: Parent Company Alphabet Plans to Fire 10,000 ‘Low Performing’ Employees – News18
Google Layoffs: Alphabet, Google’s parent company, is reportedly gearing up to lay off about 10,000 “poor performing” employees, or 6 per cent of its workforce. The move is in response to pressure from an activist hedge fund, unfavourable market circumstances and the need to reduce expenses. Employees who receive low-performance ratings will be let go.
According to a report in The Information, Google plans to ease out 10,000 employees through a new ranking and performance improvement plan.
“A new performance management system could help managers push out thousands of underperforming employees starting early next year. Managers could also use the ratings to avoid paying them bonuses and stock grants,” the report mentioned.
Under the new system, managers have been asked to categorise 6 per cent of employees, or roughly 10,000 people, as low performers in terms of their impact for the business.
The new system also reduces the percentage of employees that can score a high rating.
Hedge…
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source: https://news.oneseocompany.com/2022/11/22/googles-layoffs-parent-company-alphabet-plans-to-fire-10000-low-performing-employees-news18_2022112236276.html
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