On Friday, the CEO of Alphabet- Google’s parent company, Sundar Pichai, informed staff that the company would cut 12,000 jobs as it faces “a different economic reality”. He said that the mass lay-off, which accounted for an estimated 6% of the workforce and affected both the company’s product lines and regions, were made after an internal review. This represents the greatest number of job cuts in Google’s history.
During the first two years of the pandemic, Google and other tech companies hired tens of thousands of new employees to benefit on an increase in demand for cloud services, e-commerce, and stay-at-home entertainment. However, that trend has been changed by increasing interest rates and the risk for a global economic downturn.
Commenting on this event, Susannah Streeter, an analyst at Hargreaves Lansdown said: “It is clear that Alphabet is not immune from the tough economic backdrop, with worries about a U.S. recession growing,”.
Streeter added: “Ad growth has come off the boil … Competition is also heating up, with Alphabet facing a powerful rival in TikTok, and Instagram also vying for its important YouTube viewers” .
According to Evercore ISIS analyst Mark Mahaney, Alphabet’s record-high headcount had created significant margin risk going into fiscal 2023. Bernstein analyst Mark Shmulik also said that the layoff could save the tech giant $2.5 billion to $3 billion in costs.
As Alphabet sought to infuse its products with more AI, Pichai said that this was the time to “sharpen our focus, reengineer our cost base and direct our talent and capital to our highest priorities”.
In the past week, Google has redoubled its efforts to reassure its users, employees, and investors that it remains the market leader. Pichai published a new blog post on his Twitter account on Wednesday that highlighted all the company’s most recent achievements in cutting-edge AI technology, including large language models and generative machine learning.
Google is apparently facing competition from Microsoft- its longtime rival, which wants to grow its stake in ChatGPT, a promising chatbot that provides human-like responses. According to the news website Semafor, Microsoft is in talks to spend an additional $10 billion in ChatGPT. Microsoft, which is far behind Google in terms of market dominance for search engines but has a larger cloud business, might leverage AI to develop new products and generate marketing buzz by partnering with the trending start-up.

With Alphabet’s job cuts, the recent employment losses at four of the largest U.S. tech companies have reached 51,000. Even while the U.S. job market is still tight, they have increased worries about a recession.
According to Stuart Cole, an economist at Equiti Capital, the tech industry is somewhat like the proverbial canary in the coal mine because recent layoffs point to a worsening future for employment prospects.
Self-driving air taxis have long been a tantalizing vision of the future, and now, they’re one step closer to becoming a reality in China. Guangzhou-based Ehang, a leading player in the electric vertical take-off and landing (eVTOL) industry, recently achieved a major milestone.
Adobe, the software giant renowned for its creative solutions, has once again pushed the boundaries of innovation with a slew of updates designed to revolutionize the world of digital creativity. Adobe MAX 2023 saw the unveiling of remarkable enhancements, all underpinned by the formidable power of artificial intelligence (AI). In this article, we will delve into the highlights of Adobe’s recent updates, as outlined in their official announcement.
In the world of tech giants, strategic partnerships and negotiations often determine the trajectory of entire industries. A recent revelation in the ongoing US government’s antitrust lawsuit against Google has shed light on some of Apple’s past decisions that could have had a significant impact on the search engine landscape.
TikTok, the wildly popular short-form video platform, is making waves in the digital advertising world with its latest move. Reports from multiple sources have surfaced, pointing to the confirmation of TikTok testing an ad-free subscription service.
TikTok, the wildly popular social media platform, has faced its fair share of challenges in recent years, particularly regarding its ownership and ties to China. However, its ambitions in Southeast Asia are now facing a significant hurdle as Indonesia, its largest market in the region, has imposed a ban on shopping transactions on social media apps.
Google’s Bard AI chatbot is getting a major upgrade, and it’s all about making your life easier. In a recent announcement, Google revealed a series of exciting enhancements to Bard, aiming to provide users with a more powerful and versatile tool for various tasks.
In a bold move to navigate the ever-evolving landscape of e-commerce and cloud computing, Alibaba Group is embarking on its most ambitious restructuring to date under the leadership of its new CEO, Eddie Wu. As the company faces challenges in a slowing Chinese economy and stiff competition, Wu is determined to revitalize Alibaba’s strategy by placing a strong emphasis on artificial intelligence (AI) and promoting younger talents to senior management positions.
TikTok, the wildly popular short-form video app, has been hit with a massive €345 million ($368 million) fine by the Irish Data Protection Commission (DPC) for failing to adequately protect children’s privacy on its platform.
China’s economy is displaying hopeful signs of recovery in August, but the real estate sector continues to struggle, posing challenges for the nation’s economic stability.
Arm, the renowned British chip designer under the SoftBank umbrella, is gearing up for a high-stakes $5 billion initial public offering (IPO). While excitement surrounds this significant move, investors are growing increasingly wary of Arm’s business ties to China, particularly amidst escalating tensions between the United States and Beijing over chip technology. Let’s dive into the complexities of Arm’s China dealings and the challenges it faces.
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Cultural differences between the East and the West
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Vietnam received recognition in the 29th World Travel Awards in numerous categories
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Vietnamese dishes that fascinate foreigners
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First NFT vending machine in the world is now operational in New York
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The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
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