Google to Slow Hiring for the Rest of 2020

April 16, 20205:50 pm1679 views
Google to Slow Hiring for the Rest of 2020
Google to Slow Hiring for the Rest of 2020

Compared with startups that are firing thousands of workers, Google remains a haven for current employees. But the company’s revenue has likely been hit as businesses slash ad spending to save money. The crisis has hammered the retail and travel sectors in particular, and these are major Google advertising customers.

“The entire global economy is hurting, and Google and Alphabet are not immune to the effects of this global pandemic,” Pichai wrote. “We exist in an ecosystem of partnerships and interconnected businesses, many of whom are feeling significant pain.”

See also: Virus Outbreak Delays Hiring Across Singapore and Hong Kong

It’s rare for Google to take such steps. The company cut some jobs during the financial crisis of 2009, but in recent years, it has gone on a hiring spree, adding more than 20,000 staff last year. It also reported $23.5 billion in capital expenditures, with a major part of that invested in data centers, computer servers and related items.

Alphabet shares slipped less than 1 percent in extended trading on Wednesday. The stock closed at $1,257.30 in New York, leave it down 6 percent so far this year, Bloomberg reports.

Since the coronavirus crisis began, Google has offered $800 million in grants and customer credits, and donated more than 4,000 Chromebook laptops to schools. The company asked staff to work from home globally in March, and has said it is covering wages and benefits for contract employees who work in its offices for a certain period. It has not announced any job cuts.

Read also: Covid-19 Outbreak Helps Recruiters Reach Out to Talents, But Delays Hiring

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