CEO of Google Suggests Layoffs Are Possible, Citing the Need to Increase Productivity.

Alphabet NASDAQ:GOOG

Alphabet (NASDAQ:GOOG)

Sundar Pichai, CEO of Alphabet (NASDAQ:GOOG), has stated that he wants to make Google “20% more productive,” which may necessitate, among other things, a reduction in the number of employees.

During his keynote address at Code Conference, Pichai said that the corporation may be “slower to make judgments” in general and that he has heard employee complaints about this.

According to his research, productivity increases by 20% when decision-making is reduced from three to two or one people.

The firm had previously stated that it was not planning to decrease its personnel during the summer’s broad industry fear about layoffs but that this would ultimately depend on the state of the economy.

According to Pichai’s presentation, he does not expect the sky to clear very soon. He added, “The more we strive to comprehend the world, the more uncertain we feel about it.” It’s been shown that spending on things like advertising and consumer goods directly affects the health of the economy as a whole.”

Amid mounting accusations of anticompetitive behavior, he defended Google, noting that the company competes with the likes of Apple (AAPL) and Microsoft (MSFT) in its core advertising market and TikTok (BDNCE) in the video space (even if YouTube Shorts is off to a “great start”).

Should I be concerned about everything that’s about to fall when I open my eyes? Absolutely, “Pichai remarked, alluding to the Department of Justice’s (DOJ) ongoing case over search market dominance and the Department of Justice’s expected future action over digital advertisements.

The tech giant Google (NASDAQ:GOOG) has sent out invitations for a product event next month, where new smartphones and smartwatches are expected to be announced.

Companies in Mountain View, California Speculation abounds that Google will unveil the Pixel 7 smartphone and updated models of the Pixel Watch. The company’s annual I/O developer conference in the summer showed off both devices for the first time.

The October 6 product event hosted by Google will begin at 10 a.m. EST.

The statement comes one day before Apple (AAPL) is slated to publicly off its new iPhone 14 product range and new versions of its Apple Watch and AirPods.

To facilitate mobile app purchases in countries like Japan and India, Google announced last week that it would begin accepting third-party payment services.

Featured Image-  Megapixl @Twindesign

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