According to a story by The Information, Alphabet, the parent company of Google, may soon fire up to 10,000 workers, or 6% of the workforce, during the current Silicon Valley layoff season.These workers are described as the firm’s ‘bad performers’. According to the article, the corporation would adopt a ranking system and use performance as a criterion for deciding who gets fired.
Following a significant increase in hiring in the previous quarter, the company also announced earlier this month a freeze on hiring, citing macroeconomic trends. Alphabet is one of the largest employers in the tech sector, with reports estimating that it currently employs around 1,87,000 people.
In the third quarter, Alphabet recorded a net profit of $13.9 billion, a decrease of 27% from the same period the previous year. Thousands of people have lost their jobs as a result of huge layoffs that big digital firms like Meta, Twitter, Amazon, Snap, and others have announced.