Posted on 11/23/2022 8:19:53 PM PST by libh8er
Google is going to implement a performance improvement plan to gradually let go of 10,000 employees, multiple media reports suggest. The move is reportedly in response to pressure from an activist hedge fund, unfavourable market circumstances and the need to reduce expenses. Employees who receive low performance ratings will be let go.
In contrast to the customary 2%, Google managers have been instructed to identify 6% of staff, or 10,000 people, as bad performers. Supervisors were instructed to reduce the inflated scores in a previous notification.
Hedge fund billionaire Christopher Hohn has argued in a letter to Alphabet that the number of employees in the company needs to be reduced. The UK investor has also told Google's parent firm that its employees are paid excessively compared to other digital companies.
Hohn claims that the company's headcount is "excessive" in comparison to historical hiring patterns and does not meet the requirements of the present business environment. He asserts that the search engine can be effectively administered with many fewer highly-compensated specialists.
According to a US Securities and Exchange Commission report, the average salary for an Alphabet employee in 2021 was around $295,884. The salary exceeded what Microsoft paid its staff by over 70%. Alphabet paid its employees 153% more than what the 20 largest tech companies in the United States paid their employees.
Hohn’s views seem uncannily similar to Elon Musk's concept for Twitter. Many well-known US-based digital businesses like Twitter, Amazon and Meta, are trying to save costs. Just over a month ago, the majority of businesses reported their largest-ever layoffs. In addition to Twitter losing more than one-third of its personnel, Meta laid off roughly 11,000 workers. It's anticipated that Amazon will keep cutting staff far into 2023.
(Excerpt) Read more at livemint.com ...
Best economy ever.
Just wait until next year.
“Google managers have been instructed to identify 6% of staff, or 10,000 people, as bad performers.”
Code for anyone not identifying as being woke.
Let’s call BLM, AOC and the DOJ. Will firings be done according to equity policies to combat systemic racism?
What if, like Driving While Black, there are far more black people losing their jobs?
Whipping and firing people will continue until morale improves.
More Bay Area homeless... who can code.
The low performers can be jobless from home.
“low performing”. Isn’t that most of their employees?
“Low performers” are always the best ones to boot in the ass.
They could easily accomplish RIFs by just sending all the green card holders back to India and China. There is absolutely no reason a single American citizen needs to be laid off.
I hope they lay off the p&^%$k that blocks my email confirmation when I try to register on Conservative sites.
tried to post this at the recent Twitter/John Solomon thread, but it is not allowing comments:
23 Nov: Tweet: ALX #BringThemBack
Raise your hand if you think @ElonMusk should make public all internal discussions about the decision to censor the @NYPost’s story on Hunter Biden’s laptop before the 2020 Election in the interest of Transparency.
SCROLL DOWN:
reply ELON MUSK
This is necessary to restore public trust
https://twitter.com/alx/status/1595617655394037762
You could get a free email account at mail.com
It has always worked for me.
“low performing”. Isn’t that most of their employees?“
That’s got to look great on a resume. It shouldn’t take even an HR person long to figure out:
—low performing
—overpaid (their next job will pay -significantly- less, and HR managers won’t hire them because they will probably looking for a new job on day one).
That place leaves ex-employees with the kiss of death.
“… the average salary for an Alphabet employee in 2021 was around $295,884…”
I wouldn’t be surprised if that extra 4% over standard reductions came from people at the top end of the salary scale.
That said, I’m sure Google could do a Musk and fire a whole lot more without it affecting the quality of its product.
IIRC, my employer at the time had a corporate See You Next Tuesday CEO named Carly. One of her main contributions to the corporate world was to introduce “forced ranking” into the performance review process. Because of that six sigma distribution within the bell curve there would always be a 10% band of poor performers. Eliminate them. Redraw the curve and now the next 10% reduction is justified.
People get rich for coming up with stuff like that.
Can I say “Capitalism Sucks!” Hahaha. I had way too many hahahas I had to scale it back.
[Best economy ever.
Just wait until next year.]
Yeah. That’s what I’m afraid of.
This.
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