By: AIZAZ KHAN
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Affected employees will be paid for the full notification period and offered a severance package starting at 16 weeks’ salary plus two weeks of salary for every additional year worked at Google.
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All 2022 bonuses and remaining vacation time will also be paid, and six months of healthcare will be provided for US-based staff. Immigration support and job placement services information will also be offered.
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Pichai cites "difficult economic cycles" and a new focus on directing "talent and capital" to Google's "highest priorities" as reasoning for the layoffs.
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Google's Q3 earnings report showed revenues jumping 6% in Q3 2022, but it was lower than initial estimates and the weakest period of growth for the company since 2013.
Layoffs will also affect other Alphabet subsidiaries, but it is not clear which areas will be targeted the most.
Layoffs will also affect other Alphabet subsidiaries:
All 2022 bonuses and remaining vacation time will also be paid, and six months of healthcare will be provided for US-based staff. Immigration support and job placement services information will also be offered.