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Google is cutting more jobs in finance and real estate
Google cuts jobs: Alphabet shares on the rise. Latest developments on job cuts and outsourcing abroad. Information for investors and interested parties. Everything about it here!
Google is cutting more jobs in finance and real estate
The search engine company Google has apparently decided to cut further jobs, with the areas of finance and real estate particularly affected. An anonymous source reported that the wave of layoffs began last year and is now being carried out again at the Alphabet subsidiary Google. In the finance departments, teams such as Treasury, Business Services and Revenue Cash Operations are affected by the layoffs.
The exact extent of the layoffs remains unclear, but a Google source confirmed that the job cuts will be quite large. A company spokesperson confirmed the layoffs but stressed that investments in the company's key priorities will continue. In order to work more efficiently and optimally position ourselves for future opportunities, teams are being restructured and resources are being focused on key products.
As part of the restructuring, the company plans to relocate certain functions to overseas locations. Chief Financial Officer Ruth Porat announced that “growth centers” in particular will be expanded in cities such as Bangalore, Mexico City and Dublin. Some positions are expected to be relocated both in the U.S. and abroad, including locations in India, Dublin and Atlanta.
Despite these developments, parent company Alphabet's shares have so far shown little reaction to the news. After rising in Wednesday trading on the NASDAQ, the stock posted temporary gains on Thursday. It remains to be seen how the share will develop in the next few days.