Description: Google has announced that it is laying off 12,000 workers worldwide. The impact is being felt in Canada, although the extent of job loss here was not immediately evident. Google joins other big tech companies in the layoff trend as Amazon, Microsoft, and Meta have handed out notices to employees in recent weeks. Sundar Pichai of Google’s parent company Meta said that though there had been hirings in last couple of years of growth, “we hired for a different economic reality than the one we face today.”
Date: February 6, 2023
1) Have you ever been laid off? How did it transpire?
2) What might be some other strategies a company could use to reduce costs other than resorting to layoffs?
3) Page 1-2 of Wiley’s Financial Accounting: Tools for Business Decision-Making mentions Sabrina Geremia, an accountant who became the managing director of Google Canada. What type of conversations would you think that she and other Google executives may have had when deciding on the extent of these layoffs?