Google slows down hiring for rest of 2022 amidst economic uncertainty
Google will slow hiring for the rest of the year as economic gloom sets in.
Sundar Pichai, CEO of Google parent company Alphabet, informed employees in an email yesterday, according to CNBC.
“The uncertain global economic outlook has been top of mind,” he said. “Like all companies, we’re not immune to economic headwinds.”
The company hired 10,000 employees in the second quarter of 2022 and Pichai said because of that, it would be “slowing the pace of hiring for the rest of the year, while still supporting our most important opportunities.”
Google will focus on hiring for engineering, technical, and other important roles “for the balance of 2022 and 2023.” Alphabet had 163,906 employees as of the end of March.
The search engine giant is the latest to join other tech companies like Twitter, Netflix, and Amazon in slowing hiring or cutting jobs as recession fears dent confidence.
Alphabet reported weaker than expected earnings in the first quarter of the year, and its CFO warned of another tough period ahead, according to CNBC. Its shares are down 20 per cent for the year.
Pichai urged employees to be more “entrepreneurial”.
“Scarcity breeds clarity,” he said. “It’s what drives focus and creativity that ultimately leads to better products that help people all over the world.”