Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google has confirmed layoffs across several key teams including Flutter, Dart, Python, and others ahead of its annual I/O developer conference in May, according to employee reports on social media.
According to TechCrunch, the tech giant did not provide details about the teams, roles or number of people affected.
Google spokesman Alex García-Kummert explained that these changes are aimed at aligning resources with the company’s key product priorities, improving efficiency and reducing bureaucracy.
Also read: Microsoft, Meta and Alphabet are increasing their AI investments, spending over $32 billion in the first quarter
The layoffs are part of regular organizational adjustments and do not apply company-wide. Google encourages those affected to apply for other open positions within the company.
Despite the cuts, Google Premier Kevin Moore assured the Flutter developer community that they remain focused on upcoming projects, including new updates to Flutter at the I/O conference.
The company has also filed a WARN notice in California indicating layoffs of 50 employees at three locations in Sunnyvale.
In 2024, the technology sector exceeded the previous year’s layoff numbers: over 42,324 workers lost their jobs.
This comes after nearly 263,000 tech layoffs in 2023, continuing the trend of job cuts in the industry. Major companies, including Google, Amazon.com Inc (NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT), Discord, Salesforce Inc (NASDAQ:CRM), eBay Inc (NASDAQ:EBAY) and PayPal Holdings Inc (NASDAQ:PYPL) announced significant layoffs in January.
Several factors contribute to this seemingly contradictory situation. First, the rapid progress in AI technology requires significant investments in new technologies, leading companies to reallocate resources and reduce their workforce.
GOOG stock has gained 56% over the past 12 months. Investors can invest in the stock through the following IShares Global Comm Services ETF (NYSE:IXP) and The SPDR fund for the communications services sector (NYSE:XLC).
Price promotion: At last check on Tuesday, GOOG shares were trading 0.07% lower at $167.78.
Also read: Google’s strategic job cuts reflect ongoing cost-cutting measures and impact its real estate and finance departments
Disclaimer: This content was created in part using AI tools, and was reviewed and published by Benzinga editors.
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