International
Google cuts 12,000 jobs as tech woes bite again
January 20 | By AFP |
Google’s parent company Alphabet announced Friday it will cut about 12,000 jobs globally, citing a changing economic reality as it became the latest US tech giant to enact large-scale restructuring.
The layoffs come a day after Microsoft said it would reduce staff numbers by 10,000 in the coming months, following similar cuts by Facebook owner Meta, Amazon and Twitter as the tech sector girds for economic downturn.
The cuts follow a major hiring spree during the height of the coronavirus pandemic when companies scrambled to meet demand as people went online for work, school and entertainment.
“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today,” Alphabet CEO Sundar Pichai said in an email to employees.
“We’ve undertaken a rigorous review across product areas and functions to ensure that our people and roles are aligned with our highest priorities as a company,” Pichai said, adding that the workforce would be reduced by around 12,000 positions.
“The roles we’re eliminating reflect the outcome of that review.”
Alphabet employed nearly 187,000 workers worldwide at the end of September 2022. The cuts represent a little over 6 percent of its total workforce.
Pichai said American employees have already been notified about the cuts while reductions in other countries will take longer due to local labor laws.
The cuts will be “across departments, functions, levels of responsibility and regions,” Pichai added.
“The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here.”
‘Unsustainable’
Pichai said that the cuts would “sharpen our focus” towards new priorities, pointing to the necessity of investing even more in artificial intelligence.
“Being constrained in some areas allows us to bet big on others,” he said.
Google’s world-dominating search engine has found itself under pressure with the emergence of ChatGPT, a Microsoft-backed chatbot that can generate elaborate, human-like content in just seconds.
Microsoft has said the technology will be used to strengthen Bing, the longtime rival to Google search.
Pichai announced severance packages for US employees, who will receive at least 16 weeks of salary, their 2022 bonus, paid vacations and six months of health coverage.
He said he remained “optimistic about our ability to deliver on our mission, even on our toughest days.”
Wall Street welcomed the cuts: Alphabet shares rose by 3.5 percent in electronic trading before the stock market opened.
This tracked the effect of job cuts on other tech giants, with Meta’s share price up 35 percent since it announced 11,000 job cuts on November 9 and Amazon’s stock was up 13 percent since 18,000 people were let go earlier this month.
Analysts have said tech’s big guns had previously overspent, not seeing a slowdown on the horizon.
Daniel Ives of Wedbush Securities said the layoffs highlight a long period of irresponsible spending across a sector basking in “hypergrowth.”
“The reality is tech stalwarts overhired at a pace that was unsustainable and now darker macro is forcing these layoffs across the tech space,” he said.
According to tech site Layoffs.fyi, nearly 194,000 industry employees have lost their jobs in the US since the beginning of 2022, not including those announced by Alphabet on Friday.
Hewlett Packard and cloud computing giant Salesforce also announced major cuts this month as rampant inflation and rising interest rates have slowed growth.
International
Floods in Central Vietnam leave 28 dead, thousands displaced
The death toll from heavy rains and flooding in central Vietnam has risen to 28, with six people reported missing and 43 injured, local newspaper VnExpress reported Friday night.
More than 22,100 homes remain flooded, primarily in the cities of Hue and Da Nang. Floods and landslides have destroyed or swept away 91 houses and damaged another 181, the report added.
Around 245,000 households are still without electricity, particularly in Da Nang, where over 225,000 homes are affected.
Additionally, 80 stretches of national highways are blocked or disrupted due to landslides. Authorities expect the flooding to continue for another day or two in the region.
International
FBI foils ISIS-Inspired attack in Michigan, arrests five teens
Kash Patel did not provide further details, but police sources told CBS News that the potential attack was “inspired” by the Islamic State (ISIS).
“This morning, the FBI thwarted a potential terrorist attack and arrested several individuals in Michigan who were allegedly planning a violent attack during the Halloween weekend,” Patel wrote on X.
“Thanks to swift action and close coordination with our local partners, a possible terrorist act was prevented before it could be carried out,” he added.
CBS reported that five people between the ages of 16 and 20 were arrested on Friday. At least one of them was reportedly acquainted with a former member of the Michigan National Guard, who was arrested in May for plotting an ISIS-inspired attack on a U.S. military facility in the Detroit suburbs.
International
U.S. warns China over Taiwan during high-level defense talks in Kuala Lumpur
U.S. Secretary of Defense Pete Hegseth expressed concerns over China’s growing military activity near Taiwan during a meeting on Friday with Chinese Defense Minister Dong Jun in Kuala Lumpur.
“It was a constructive and positive meeting,” Hegseth wrote on X. “I emphasized the importance of maintaining a balance of power in the Indo-Pacific and raised U.S. concerns about China’s actions around Taiwan,” the self-governed island that Beijing claims and does not rule out invading.
The meeting took place on the sidelines of the ASEAN Defense Ministers Meeting-Plus, one day after U.S. President Donald Trump met Chinese President Xi Jinping in Busan, South Korea. According to Trump, Taiwan was not discussed during their talks.
“The United States does not seek conflict and will continue to firmly defend its interests, ensuring it maintains the capability to do so in the region,” Hegseth added in his message.
Friday’s encounter followed a September 9 video call between Hegseth and Dong. Their previously planned meeting at the Shangri-La Dialogue in Singapore was canceled due to Dong’s absence from the event.
Trump’s sit-down with Xi — their first since 2019 — resulted in some trade agreements but avoided addressing the issue of Taiwan, a long-standing source of tension between the world’s two largest powers.
Trump has taken a more ambiguous stance on Taiwan’s future compared with former President Joe Biden, who repeatedly stated that Washington would support Taipei if China launched an invasion. The Republican president has also criticized Taiwan for “stealing” the U.S. semiconductor industry.
Floods in Central Vietnam leave 28 dead, thousands displaced
FBI foils ISIS-Inspired attack in Michigan, arrests five teens
U.S. warns China over Taiwan during high-level defense talks in Kuala Lumpur
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