Google announces second major layoff wave in 2024
CALIFORNIA, UNITED STATES — In a move that underscores the ongoing restructuring within the tech industry, Google announced a significant reduction in its workforce, marking the second major round of layoffs this year.
The cuts predominantly affect the company’s finance and real estate departments as part of a strategic shift towards efficiency and realignment of resources.
Restructuring for future growth and AI investment
A Google spokesperson confirmed that the layoffs are part of a broader initiative to streamline operations and focus on the company’s most significant product priorities.
“To best position us for these opportunities, throughout the second half of 2023 and into 2024, a number of our teams made changes to become more efficient and work better, remove layers, and align their resources to their biggest product priorities,” the spokesperson stated.
The restructuring plan includes relocating some roles to growing international hubs in Atlanta, Chicago, India, Ireland, and Mexico.
Impact on employees and opportunity for internal transfers
While the exact number of job cuts has not been disclosed, the layoffs are expected to primarily impact the company’s treasury, business services, and revenue cash operations.
Affected employees have been encouraged to apply for other open positions within the company, indicating that not all teams will experience the reductions.
This round of layoffs follows an earlier workforce reduction in January, where Google let go of 702 workers in the Bay Area and an additional 100 jobs at its YouTube division.
CEO Sundar Pichai had previously indicated that further job cuts were anticipated throughout the year.
Adapting to remote work trends and real estate reductions
The tech giant’s decision to downsize its real estate footprint reflects the shift towards remote work, which has led to a decreased need for physical office space.
In 2023, Google spent $1.8 billion on obligations related to its real estate reductions and marketed 1.4 million square feet of office space for sublease in Silicon Valley. A major project in San Jose has also been put on hold as part of these cost-cutting measures.
