Connect with us

Hi, what are you looking for?

Tech News

Google spent billions of dollars to lay people off

Google logo and black swirls
Illustration: The Verge

Google spent $2.1 billion on severance and other expenses as it laid off more than 12,000 employees over the course of 2023. And the layoff charges keep coming: in just the one month of 2024 so far, the company has already spent $700 million on employee severance charges as part of layoffs targeting another 1,000-plus roles. Alphabet, Google’s parent company, revealed the figure alongside its fourth-quarter earnings release on Tuesday.

Despite the cuts, Google ended 2023 with growth across most of its core business lines. Google posted $86 billion in revenue for the fourth quarter of 2023, a 13 percent increase year over year. The search giant’s core digital ads and cloud computing businesses also showed steady growth, which CEO Sundar…

Continue reading…

You May Also Like

World News

 The job market is still hanging on—but not nearly as well as the headline numbers and media pundits would have you believe.  Original Article: The...

Editor's Pick

Jeffrey Miron What policies, if any, can reduce the flow of illegal immigration? The libertarian answer is expanded legal immigration. Libertarians believe this would...

Editor's Pick

Anastasia P. Boden After the last two Supreme Court terms, one might think the court needs a reprieve from high‐​profile cases. But so long as...

Editor's Pick

Brent Skorup, Anastasia P. Boden, and Jennifer J. Schulp In this “smart” and digitized world, nearly everything we do could be captured, stored, and...