Tech companies are slashing jobs. Alphabet — the parent company of Google — just cut 12,000. They aren’t the first tech company to lay off workers… just the most recent. According to Layoffs.fyi (a website that tracks the industry), tech firms have cut more than 190K jobs since January 2022.
Why are they reducing their workforces?
You and I will never know what really happens in the board room, but we all understand how important it is to please investors. Alphabet/Google stock is down about $57 bucks a share right now from its 52-week high. CEO, Sundar Pichai, said the layoffs are because they expanded too rapidly during the pandemic — and they must refocus on its future… like artificial intelligence.
It’s all about that AI stuff!
I talked yesterday about chatGPT — and from the many articles I’ve read, there are some major internal concerns about the continued dominance of Google’s search engine. Google declared a “code red” last month over chatGPT. It’s scaring others too. Microsoft is laying off 10K workers to trim costs amid economic uncertainty and to also refocus on AI.
Advertisers have Google’s algorithm nailed and the AI shift is going to change it all — I look forward to seeing how it shakes out. AND, I’m happy I’m not just fresh out of college and starting a career. Getting old sucks, but sometimes it’s nice to know you can make it (for a few years anyway) no matter how much the world changes.
I’ll cook what I can afford (still thinking about starting a chicken farm!) in my postage stamp kitchen…
And enjoy the view even in wintertime…
TIL (Today I Learned): Florida has an invasive population of wild monkeys that carry a strain of herpes that is transmissible to humans and can kill you.