Google Lays Off 200 Workers to Replace Them With Cheaper International Workers [Yahoo! Finance]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: Yahoo! Finance
As CNBC reports , the search giant laid off at least 200 people ahead of an April 25 quarterly earnings call that saw its parent company, Alphabet, report an uptick in sales and a 14 percent jump in share value, both of which outpaced analyst estimates. Tasked with building out the foundations of the company's products and helping keep users safe, the core unit umbrella oversees teams related to information technology, code development, infrastructure, and security. News of the layoffs comes after prior reports indicated that Google was cutting jobs to cut costs and restructure the business amid its AI efforts , with many of the eliminated American roles being replaced with identical jobs abroad. At least a quarter of the cuts took place at the company's Sunnyvale, California campus, impacting the engineering team there. According to internal documents viewed by CNBC , Google plans to hire for corresponding roles in Mexico and India. "We intend to maintain our current global
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GOOG
Earnings
- 4/25/24 - Beat
GOOG
Sec Filings
- 5/16/24 - Form PX14A6G
- 5/15/24 - Form 4
- 5/15/24 - Form 144
- GOOG's page on the SEC website