Sundar Pichai, the chief executive officer (CEO) of Google parent company Alphabet (GOOG/GOOGL), has warned employees that more job cuts are coming in 2024.
In a memo to staff, Pichai said that further headcount reduction is needed as the company puts more resources into fast-growing areas such as artificial intelligence (A.I.).
Specifically, Pichai wrote that Alphabet is focused on “removing layers to simplify execution and drive velocity.”
Alphabet began cost cuts and staff reductions in January 2023. Since then, it has eliminated 12,000 jobs, or about 6% of its global workforce.
In recent months, the company has cut hundreds of jobs in areas ranging from engineering to advertising.
In December, Alphabet launched its largest and most sophisticated A.I. model yet called “Gemini.”
Alphabet’s stock has risen 55% over the last 12 months to trade at $141.47 U.S. per share.
