The economic downturn will not save many countries, which is what investors who are removing their responsibilities in the technical giants seem to be thinking.
Alphabet ( (GOOGL) – Find Alphabet Inc. Report), Google’s parent company, seems to be proving it. Mountain View-based, California is planning a tough time. Indeed, Sundar Photosi, CEO, has warned employees that the company may not survive the recession.
“The global economic uncertainty has been high,” Pichai said in a statement issued by TheStreet and confirmed by a spokesman. “Like all companies, we are not immune to the financial crisis. One of my favorite things about our culture is that we did not see such problems as obstacles. Instead, we saw them as an opportunity to increase our interest and invest in our economy.
The massive internet giant and its Youtube segment, for example, could be affected by the reduction in advertising and advertising costs for companies that want to reduce their costs in order to offset the decline in consumer and real estate costs.
To avoid any unpleasant surprises and above all expect a recession, Google will take steps to protect itself from wasting money. A major internet expert should reduce annual rental due to the economic downturn.
Google Delays Recruitment
“We will be delaying the recruitment process for the whole year, supporting our most important opportunity. Throughout 2022 and 2023, we will focus on our work in engineering, technology and other key roles, and ensure that the great talent we write meets our long-term aspirations. , “announces Photosi.
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The chief added that Google should be “more business-minded, more efficient, more focused, and more hungry than we have shown in the solar system.”
“Sometimes, this means combining where money goes together and improving the process. be vigilant. “
In the past, Google has often been unaffected by the economic downturn that affects the technology sector. You need to get back to the financial crisis just to get a job on the internet giant. But since then, Google has continued to hire. The company had 163,906 employees as of March 31, up 17.1% annually, according to a report by the Securities and Exchange Commission (SEC).
Google is not the only professional giant that fears an economic collapse. June 30, Mark Zuckerberg, CEO of Social Media giant Meta Platforms. (META) – Find Meta Platforms Inc. Report), he said, looking forward to “one of the most difficult challenges we have seen in recent history.”
As a result, Meta will strengthen its cost-cutting measures. The company only wants to hire between 6,000 and 7,000 new engineers by 2022, as opposed to the first project of 10,000 new recruits, Reuters reports. The result is a 30% to 40% change.
Microsoft Software giant ( (MSFT image) – Get the Microsoft Corporation Report) also tackles the economic crisis by reducing the number of employees who hire workers. Prior to the new appointments, employees should seek the approval of the senior management team of Rajesh Jha, vice-president of the Office of the President and a section of Windows. A few staff members working on Windows, Office and Teams chat and conference software teams will be hired.