Google cuts 12,000 jobs: Severance, bonuses among measures announced for employees

The CEO in his blog post said that he took full responsibility for the decision. While lamenting the fact that he will have to say goodbye to numerous incredibly talented people, Pichai expressed his grief and wrote that he was deeply sorry. He asked Google employees to absorb the difficult news and also went on to list the measures that the company has taken to ensure a smooth transition of its employees.

“While this transition won’t be easy, we’re going to support employees as they look for their next opportunity,” wrote Pichai.

According to the blog post, Google will be paying employees during the full notification period with a minimum being 60 days. Pichai said that the company will also offer a severance package starting 16 weeks salary and two weeks for every additional year at Google. The company will also accelerate at least 16 weeks of Google Stock Units (GSU) vesting.

Pichai also said that the company will be paying 2022 bonuses and remaining vacation time. Moreover, in his blog, the CEO also said that the company will be offering six months of healthcare, job placement services and immigration support for the affected staff. These measures certainly raise questions about how Google will deal with affected employees outside the US. The 50-year-old said that the company will be supporting employees in other nations in line with the local practices.

Recently, numerous tech companies resorted to drastic measures amid rising inflation and faltering global economy. Companies such as Meta Platforms Inc., Twitter Inc. and Amazon.com Inc. have all announced massive layoffs. Interestingly, owing to its resilience, Google has been avoiding these measures for the longest time. Reportedly, Google has been dealing with a slump in digital advertising and cloud computing divisions that have been limping behind Microsoft and Amazon.