After hiring heavily during the pandemic, Silicon Valley giants Meta (Facebook), Alphabet (Google) and Snap (Snapchat) are looking to cut payrolls amid slowing growth and falling stocks.
In parallel with the hiring freeze, employees are thus threatened by a layoff plan, reports
Wall Street Journal
At Snap, the layoffs were publicly announced.
The group is seeking to part with 20% of its staff.
Conversely, at Google and Meta, the strategy chosen is different.
Not to mention dismissal, some employees were invited to apply for other internal jobs.
Otherwise, after a certain period, they will be returned.
A period of ninety days
At Alphabet, this measure notably concerned the Area 120 startup incubator. More than half of the structure's 100 employees are concerned.
They have a period of ninety days to change position.
At Meta, the return period is generally 30 days.
In the long term, the group seeks to reduce its expenses by at least 10%, which should mainly go through a reduction in the workforce.
Meta also communicated on its difficulties through a memo published in May 2021 by Tom Allison, manager of the Facebook application.
In it, the manager claimed there would be a “major supply and demand imbalance between [their] hiring needs and talent availability.”
Last July, Sundar Pichai, CEO of Alphabet announced a major internal consultation to improve productivity in the group by 20%.
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