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Google to reduce workforce by 12k

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Re: Google to reduce workforce by 12k

#451

Post by bko »

AYBABTME wrote: post #422

Every time I read stuff like: > "Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today." I feel taken for a fool. Every damn body knew that the last 2 years were not representative of the future. Everybody knew that free-money, COVID and related phenomenons were a phase. I can't believe that Google, Shopify, C…

Googles revenue grew 41% in 2021, which is higher than normal. But not crazy. It was not about future projections or anything real. It was about cheap money and asset inflation. I don't know the exact mechanisms but I'm not convinced that it was about projections and now a letdown. Revenue is falling sure but it's still growing incredibly fast for such a large company

2022 (TTM) $282.11 B 9.5%

2021 $257.63 B 41.15%

2020 $182.52 B 12.77%

2019 $161.85 B 18.3%

2018 $136.81 B 23.42%

2017 $110.85 B 22.8%

2016 $90.27 B 20.38%

https://companiesmarketcap.com/alphabet-google/revenue/

Re: Google to reduce workforce by 12k

#452

Post by jasondigitized »

ergonaught wrote: post #234

I need to see these "I take full responsibility" people actually punished. At the very least, this sentence needs to be removed from their mouths. Alphabet had 116 billion USD "cash on hand" at the end of September 2022. Even if the full cost of each of those 12K employees is 500K per year, that's "only" 6 billion dollars to keep those "great" people that they "love" working with around. Net income for that quarter w…

Having just gone through this yesterday I can tell you that while some of this has to do with $$$, these layoffs/reductions are also used to quickly recalibrate the team by removing low performers and cultural misfits.

Re: Google to reduce workforce by 12k

#453

Post by rqtwteye »

pyrrhotech wrote: post #440
ergonaught wrote: post #234

I need to see these "I take full responsibility" people actually punished. At the very least, this sentence needs to be removed from their mouths. Alphabet had 116 billion USD "cash on hand" at the end of September 2022. Even if the full cost of each of those 12K employees is 500K per year, that's "only" 6 billion dollars to keep those "great" people that they "love" working with around. Net income for that quarter w…

You are not entitled to your multi-six figure job, and no one should feel bad for you if the company decides you are an excess. If you are not creating enough value to justify your presence, the company has every right and frankly society should demand that you be let go, otherwise you are wasting all of our finite resources. Sure, Google should have been a bit more cautious in their hiring during the unsustainable C…

“If you are not creating enough value to justify your presence, the company has every right and frankly society should demand that you be let go”

That’s not how it works for probably 99% of employees. You do the job management gives to you and have almost no influence on whether you create value or not.

Re: Google to reduce workforce by 12k

#455

Post by twistedpair »

MonkeyClub wrote: post #92
eCa wrote: post #51

I guess someone has to write this comment: > I take full responsibility for the decisions that led us here As usual, he says nothing more what the consequences for him are. It seems like all of the FAANGs have made severe strategic cockups when it comes to hiring lately. I wonder if it will affect their longterm attraction as employers.

> It seems like all of the FAANGs have made severe strategic cockups I’m becoming more and more convinced that they’re preparing for a global recession. I posed such an Ask HN a while ago, before the Microsoft layoffs, where the general takeaway was that there’s no indication for a recession. However, after the 10+12K layoffs by the giants, and constant news about smaller layoffs by smaller companies (in the 100s per…

"recession" talk provides cloud cover for many a company to pare back and prune products, processes, and people in a way that would normally cause more out cry. It's not that such changes aren't needed, but they can pile up until a forcing function triggers a hard look and it's acceptable to do them.

Re: Google to reduce workforce by 12k

#456

Post by spacephysics »

mattbrewsbytes wrote: post #311
ergonaught wrote: post #234

I need to see these "I take full responsibility" people actually punished. At the very least, this sentence needs to be removed from their mouths. Alphabet had 116 billion USD "cash on hand" at the end of September 2022. Even if the full cost of each of those 12K employees is 500K per year, that's "only" 6 billion dollars to keep those "great" people that they "love" working with around. Net income for that quarter w…

The larger these tech companies get the more they behave like old tech, like IBM. When a company is publicly traded, shareholders are more important than employees. Silicon Valley and startups are too ingrained with the "IPO/acquisition or bust" mentality and post IPO employees want RSU's or stock grants as part of "total comp". You say you want a revolution? One where the people at the top are accountable? One where…

This assumes democracy, giving everyone an equal vote, will have a net benefit outcome.

I do not believe this is the case. Companies are closer to an autocracy or tribunal (board of trustees, etc)

With everyone having a vote, either nothing will get done because it will be unorganized and the company will have no coherent vision or direction

Or, there will be an autocracy that inevitably forms, with someone ending up at the top and directing what’s to be voted on, to only give the illusion of power of the people.

Furthermore, if you’ve started a company, I don’t see why the people you’ve hired should take the company away from the original owner. That would be corporate “eminent domain”

It would have disastrous effects of companies high tailing it out of the US, and we’d end up cratering our economy.

A less extreme example of this is raising corporate taxes. The reality is, a company is going to try and reduce their tax liability as much as possible (like every person should do, really)

If the cost of moving a company for a better tax rate outweighs the cost of the move, they’ll do it. So raising corporate taxes will most likely have such an effect, taking jobs out of areas and moving them to a different state or country.

One caveat is if the whole modern world agrees to raise corporate taxes, but then there exists other potential problems

Re: Google to reduce workforce by 12k

#457

Post by phphphphp »

AYBABTME wrote: post #422

Every time I read stuff like: > "Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today." I feel taken for a fool. Every damn body knew that the last 2 years were not representative of the future. Everybody knew that free-money, COVID and related phenomenons were a phase. I can't believe that Google, Shopify, C…

Companies don’t need to be right, they need to maximise the chance of succeeding. Yes, it was obvious that the raining-money period wasn’t going to last… but what if it had? What if Google had decided to ignore it, and then by some ridiculous twist of fate, it did continue and a competitor did leverage it to beat Google?

Firing a bunch of people and killing some projects is a tiny price to pay for the potential upside. As humans, seeing people get fired is painful and we view the individuals responsible in a negative light — which I agree with! — but for Google the corporate entity, and Microsoft and Shopify etc etc it made complete rational sense even in hindsight.

Re: Google to reduce workforce by 12k

#458

Post by tasuki »

eCa wrote: post #51

I guess someone has to write this comment: > I take full responsibility for the decisions that led us here As usual, he says nothing more what the consequences for him are. It seems like all of the FAANGs have made severe strategic cockups when it comes to hiring lately. I wonder if it will affect their longterm attraction as employers.

> > I take full responsibility for the decisions that led us here

> As usual, he says nothing more what the consequences for him are.

Taking responsibility is the opposite of assigning blame. Taking responsibility doesn't mean there are or should be consequences for him.

Re: Google to reduce workforce by 12k

#459

Post by pelasaco »

revskill wrote: post #402
makach wrote: post #104

Not a bad email, and a decent follow up on the ones that are affected. It is also a reminder that killing yourself slowly at the workplace is meaningless. Management has no responsibility to you, and no promise is certain. It’s your responsibility to take care of yourself. My take, don’t be bitter. Take the severance as soon as possible and get back on your feet. Having Google on your resume is a very good thing.

Per my experience, nothing beats the "i work on what i love and passionate". Coorporate environment of course has some advantages, for what they called "the real world experience". But it doesn't mean they're more capable than "lonely hackers" that can build his own universe by the weekends. "Learn/Work by heart" is a dangerous thing.

the only thing that beats "i work on what i love and passionate" is "i work on what i love and passionate and therefore I'm well paid" and "i work on what i love and passionate and therefore I'm well paid with a great work life balance"

Re: Google to reduce workforce by 12k

#460

Post by hankman86 »

I wonder what hidden benefits there are in these layoffs. Sure, companies lose skilled staff and nominally taken a hit in overall corporate output.

On the flipside, people work twice as hard, eager to show their worth. That may be the cynic intent behind these industry-wide layoff. Scare the crap out of everyone and make them do the extra mile.

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