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Sundar Pichai on Google Jobs: Google’s parent company Alphabet has reported slow revenue growth in the past quarters. The reason for this is the sound of economic slowdown, after which Google CEO Sundar Pichai has confirmed that the recruitment process in the company has now been slowed down due to the sound of economic slowdown. According to the data, Alphabet’s earnings declined by 26.5 percent in the third quarter of this year compared to last year.
The ongoing slowdown in the advertising market is also showing an impact in achieving Google’s set annual target. Therefore, in order to budget and stabilize revenue in the upcoming revenue quarter, Alphabet will reduce the recruitment of IT engineers and other employees. Google CEO Sundar Pichai said on October 25 that Alphabet plans to slow down hiring for the next two quarters. He said that, we are focusing our attention on the product and business priorities.
What did Pichai say?
Pichai said, Talent is the most valuable resource, so we are constantly working to make sure that everyone we are hiring is working on what matters most as a company. We are reviewing projects at all scales to make sure we have the right plans in place. This is something that we will continue to do in 2023. In particular, Alphabet will not recruit outright, but will fill positions that focus on key roles, especially top engineering and technical talent.
YouTube earnings decline
Even Google-led YouTube has seen a drop in revenue for the first time ever. Its advertising revenue declined to $7.07 billion from $7.2 billion in the same quarter last year. In view of the current conditions, Google had already announced the hiring limit in the company. Along with this, Pichai had also announced budget cuts to control expenditure and limit the expenditure of various teams. Other tech giants, including Facebook, have also announced cost cuts due to the alleged economic slowdown and fears of a continuing recession in 2023.
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