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A couple weeks ago Google announced more layoffs in their HR and cloud divisions. They have $100 billion cash on hand, literally more than any other tech compan
by russellbeattie 2y ago
A couple weeks ago Google announced more layoffs in their HR and cloud divisions. They have $100 billion cash on hand, literally more than any other tech company, and much more in longer term investments.
In round numbers, that's enough money to cover roughly 10,000 employees for 25 to 50 years (depending on how much you think the salary averages out to).
Regardless, the CFO said one of her priorities this year was more cost cutting.
- doktorhladnjak 2y agoIt's a business, not a jobs program
- russellbeattie 2y agoDid I suggest it was? Apparently you missed the topic of this thread: According to the article, layoffs are bad for business. I was pointing out that there doesn't seem to be an immediate need for layoffs at Google, based on the fact they have more money on hand than some small countries. Even with horrible future revenue projections, that seems like a reasonably large buffer. But now that you mentioned it, there's nothing wrong with a corporation looking out for the long term interests of their employees. It would actually be smart for Google to act like a "jobs program" and retrain staff, or find work until the business cycle comes back around. (Brandolini's law is alive and well.)