Google layoff details
Declared for the states: We’ll pay employees during the full notification period (minimum 60 days). We’ll also offer a severance package starting at 16 weeks salary plus two weeks for every additional year at Google, and accelerate at least 16 weeks of GSU vesting.
We’ll pay 2022 bonuses and remaining vacation time. We’ll be offering 6 months of healthcare, job placement services, and immigration support for those affected.
Outside the US, we’ll support employees in line with local practices.
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Why isn't Apple laying off ?
No overpaying, no over hiring. Plus they’re doing good, safest company out there.
Apple stock has fallen the least when compared to other FAANG companies.
Tech hiring winter in full swing.
It’s bad
Elon Musk started this shit with firing at Twitter... Then Meta and then everyone jumped onto that bandwagon as an excuse that if everyone is doing it, they won't be singled out as the bad guys!
Same thought. If everyone is doing it then there would be lesser bad PR
Salaries that were in stratosphere due to fang/startup effefts will come back to earth now.
Genuine q: how does these layoff improve these company’s balance sheets? I mean cost saving will be minuscule as compared to overall yearly revenue, isn’t it ?
Nope. The cost adds up each year. R&D result pays off after several years. Now Google is putting a halt on those plans which means these employees are not needed any more.
But 5-6% attrition will happen anyway in a year. Just stop hiring and workforce count will decrease by this much %. Why layoffs then?
Affected number, and affected Product areas and functions for countries outside the US haven’t been decided yet
Scary if followed up on
Tech apocalypse has begun
Hearing from a friend that he has lost all access to internal websites and work accounts as he checked this morning. He can’t access email or pretty much even the YouTube account he would access with his work ID.