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Alphabet Inc’s (NASDAQ:GOOGL) Google has decided to further reduce the number of employees in its recruiting organisation.
Hiring at Google remains slow
Earlier this year, the multinational lowered its global headcount by 6.0% – a move that affected about 12,000 of its employees including many in its recruiting organisation (source).
Still, it’s moving ahead now with trimming the size of its hiring team further, as per Semafor. Brian Ong – the Recruiting Vice President of Google told employees today:
Given the base of hiring that we’ve received the next several quarters, it’s the right thing to do overall.
Those who are being laid off from its recruiting organisation started receiving emails on Wednesday. Shares of the tech behemoth are up nearly 60% for the year at writing.
How many employees will be let go?
Google did not reveal exactly how many or what percentage of its recruiting employees does it plan on laying off. Speaking with CNBC, Courtenay Mencini said on Wednesday:
Volume of requests for our recruiters has gone down. To continue our important work to ensure we operate efficiently – we’ve made the hard decision to reduce the size of our recruiting team.
The Nasdaq-listed firm started moderating the pace of hiring last year to manage costs and prepare for an economic slowdown. Its revenue in the latest reported quarter went up 7.0% year-on-year and topped Street estimates by some $1.75 billion (read more).
Wall Street currently has a consensus “buy” rating on Google shares.
The post Google reduces the size of its hiring team appeared first on Invezz.
