Google Streamlines Finance Division Through Targeted Layoffs

Google is undertaking another round of layoffs, this time specifically targeting its finance division in a move to reduce expenses and streamline operations, according to multiple reports on Thursday. Sources familiar with the situation claim these layoffs are part of an ongoing restructuring effort routinely implemented across Google, with minimal impact on the Indian workforce.

“This is a consistent interaction that is important for Google’s inner redesign plan. It has next to no effect,” a source revealed. Google didn’t answer requests in regards to the cutbacks by press time.

Limited Scope, Internal Mobility Options

A Reuters report indicates that these layoffs are not company-wide. A Google spokesperson confirmed to the news agency that affected employees will have the opportunity to apply for open positions within the company, without disclosing the exact number of employees let go. “A little part of the influenced jobs will be migrated to centers the organization is putting resources into, including India, Chicago, Atlanta, and Dublin,” the representative added by the report.

Tech Industry Faces Hiring Slowdown

This round of layoffs coincides with a general slowdown in hiring across the technology sector. Layoffs.fyi, a layoff tracking platform, reports that 85 tech companies, including giants like Microsoft, Google, and SAP, have already issued termination notices to approximately 24,000 employees in 2024.

“The previous round of layoffs last year was a significant undertaking, and that’s concluded now,” said a source regarding Google’s January 2024 layoffs, when the company let go of hundreds of employees across various departments, including engineering and hardware, to prioritize building its artificial intelligence capabilities.

Previous Restructuring and Industry Trends

In January 2024, Google issued termination notices to hundreds of employees, calling it part of a larger restructuring plan. Earlier in 2023, Google CEO Sundar Pichai announced job cuts impacting over 6% of the global workforce, or roughly 12,000 employees. Notably, CEO pronouncements marked job cuts last year, while this year’s reductions have been communicated by lower-level leaders, including vice presidents and human resources.

This news follows Microsoft’s own layoffs earlier in the year, which saw 1,900 employees from its gaming division, Activision Blizzard and Xbox, let go.