Friday, Google’s parent company Alphabet announced a massive layoff of nearly 12,000 jobs. This will count for 6% of the major tech company’s workforce. Workers were notified by email of the layoffs, but it shouldn’t be a shock. Many major companies in silicon valley have announced similar layoffs, including Amazon, Microsoft, and Salesforce.
Why so many layoffs?
There is no one answer for the repetitive announcements of layoffs. Instead, there are numerous factors impacting layoffs. The tech companies have admitted rapid growth during the pandemic encouraged many hires.
In an email to Google employees, CEO Sundar Pichai wrote, “Over the past two years, we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.”
Google is also announcing a massive layoff as they switch gears to focus more on artificial intelligence. Google’s CEO did acknowledge this in his letter, saying with any new business move comes tough choices.
Even more layoffs will likely be announced as we push into 2023. However, studies show January is when the most layoffs are done. According to Resume Builder, One in 3 companies expects to lay off 30% or more of their workforce in 2023.
If you fear you could be next on the list of employees being asked to pack up, experts say to follow these tips.
- Do not be ashamed to share you’ve been fired. Sharing the news can help you land your next opportunity.
- File for unemployment asap.
- Ask creditors for a break.
- Schedule your doctor appointments now before your health benefits no longer exist.