Beautiful Virgin Islands

Sunday, Feb 05, 2023

"Cutting 12,000 Jobs Step In Right Direction But...": What An Investor Told Google

"Cutting 12,000 Jobs Step In Right Direction But...": What An Investor Told Google

Christopher Hohn also told Sundar Pichai that he must address excessive employee compensation.
Google's parent company Alphabet Inc eliminated 12,000 jobs or 6 per cent of its workforce. Hedge fund billionaire Christopher Hohn wrote a letter to Google and Alphabet CEO Sundar Pichai advising him to "cut thousand more jobs".

In a viral letter, dated January 20 the billionaire said that Google's 12,000 layoff is a step in the right direction, but it does not reverse the very strong headcount growth of 2022. "Ultimately management will need to go further".

The founder of The Children's Investment Fund Management (TCI) holds a $6 billion stake in Google-parent company Alphabet, The Telegraph reported.

Last year, Sir Chris who paid himself a record Euro 1.5m a day in 2022 added that Alphabet had doubled its headcount in the last five years and he advised that the management should aim to "reduce headcount to 150,000, which is in line with Alphabet's headcount at the end of 2021. This would require a total headcount reduction in the order of 20 per cent."

He also said that Google should "address excessive employee compensation". He further warned that the company should moderate stock-based payments.

Sir Chris added that he hopes to "have a further dialogue" with Sundar Pichai on these matters in due course.

On January 21, Google announced layoffs.

For years Alphabet has attracted top talent to build Google, YouTube and other products that reach billions of users, but it is now locked in competition with Microsoft Corp in a burgeoning area known as generative artificial intelligence.

The cuts at Alphabet come days after Microsoft said it would lay off 10,000 workers, Reuters reported.
Newsletter

Related Articles

Beautiful Virgin Islands
Close
0:00
0:00
Tennessee Bill Would Imprison People for 3 Years If They 'Lie' About Rape to Get an Abortion.
I have a dream, MLK inspiring speech
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
Aretha Franklin, Marvis Staples - Oh Happy Day
EU found a way to use frozen Russian funds
BVI Freedom Song
First generation unopened iPhone set to fetch more than $50,000 at auction.
Billy Preston - You Can't Beat God Giving (Live)
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Almost 30% of professionals say they've tried ChatGPT at work
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
What is ChatGPT?
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Hello Dolly
Tesla reported record profits and record revenues for 2022
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Bob Marley - Get Up Stand Up
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Yes He Can
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
What A Friend We Have In Jesus
Who’s Threatening Israeli Democracy?
Unforgettable
Federal Reserve Probes Goldman’s Consumer Business
Touch The Hem Of His Garment
China's first population drop in six decades
The Lord's Prayer
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
THE GOD MOVEMENT...BEAUTIFUL BVI
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Siyahamba
Tesla slashes prices globally by as much as 20 percent
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
Ramblin' Rose
After Failing To Pay Office Rent, Twitter May Sell User Names
Protoje - Who Knows ft. Chronixx
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
Pressure - Virgin Islands Nice
FIFA president questioned by prosecutors
Phil Wickham - House Of The Lord
Britain's Sunak breaks silence and admits using private healthcare
My God Is Real (Yes, God Is Real)
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Louis Armstrong - When The Saints Go Marching In
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
Kanye West Sunday Service - hallelujah, salvation, and glory
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
Jonathan Nelson - I Believe (Island Medley
TikTok CEO Plans to Meet European Union Regulators
From The Virgin Islands Sqad Up
UK chaos: Hong Kong emigrants duped by false prospectus
Common, John Legend - Glory
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
Japan reportedly to give families 1 million yen per child to move out of Tokyo
I have a dream, MLK inspiring speech
×