The total amount of severance pay to be paid by Google, which dismissed many of its employees at the beginning of last year, has been revealed.
Google Last year, it laid off thousands of employees and risked paying billions of dollars in severance pay in the process. The company’s last quarter report revealed these payments. According to the earnings figures for the last quarter of 2023 announced on Tuesday, the company made a profit only in this quarter. $700 million will pay compensation.
Google started 2024 with layoffs. Companyhad fired hundreds of employees from its core engineering and hardware teams. The total amount of compensation paid by the company after last year’s layoffs $2.1 billion It was announced that. Google made a profit of $86.3 billion in the fourth quarter of the year, an increase of 13% compared to last year. For fiscal year 2023 $307.4 billion profit announced.
The year 2024 also started with layoffs
In January 2023, Google, exactly 12 thousand employees He was dismissed. Although the exact number of employees of the company is not known, this number corresponds to 6% of the total number of employees. Company CEO Sundar Pichai said, “We have seen periods of dramatic growth in the last two years. To match and support this growth, we hired in a different economic reality than the economic reality we face today.” He shared a note with the employees.
laid off employees, 60 days received payment during the minimum notice period. Moreover at least 16 salaries severance pay and received additional compensation equal to two weeks’ salary for each year they were with the company. 2022 bonuses and unused leaves were also paid to employees. Google is among the technology companies that hired a large number of people during the pandemic period and then made cuts in their workforce.
Source :
https://www.businessinsider.com/google-2-billion-layoffs-severance-2023-earnings-2024-1