If layoffs are the result of overhiring, then why are so many of my friends who have been at Google for more than ten years being let go? They are the ones that turned it into a trillion dollar company that has cash on hand exceeding $100B.
Nope, it's not about overhiring...
A lot of the executives are from countries where the average wage is $400 a month. So anything above that is a rip off.
Recognize that the CEO and BOD work for the shareholders. And the shareholders demand profits in the face of rising interest rates. Good luck. Don't sell your shares yet. Google will still go to the moon with or without you.
Severance packages are quite good I heard. Agree with previous comment but unless you mean there is another layoff coming with little to no severance?
Google is cash rich but out of all the product virtually none were market leaders or profitable. Ads are so profitable it doesn't matter, until suddenly it does....
yes, it's not ONLY about over hiring. It's about a lot of employees at Google, who have been coasting along, working on meaningless science projects which bring $0 revenue, collecting hefty compensations, thinking that their employment at Google is forever and ever and ever. Basically living in a bubble. Google is famous for having a workforce believing that they are guaranteed lifetime jobs.
And now they've been punched in the face,
But if you think that hurts, wait until you see the severance packages offered in round 2.