| Item 7.01. | Regulation FD Disclosure. |
On January 20, 2023, Sundar Pichai, Chief Executive Officer of Alphabet Inc. and Google LLC (“Google”), shared the following message with Google employees:
Googlers,
I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 roles. We’ve already sent a separate email to employees in the U.S. who are affected. In other countries, this process will take longer due to local laws and practices.
This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I’m deeply sorry for that. 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.
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.
I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI. To fully capture it, we’ll need to make tough choices. So, 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. The roles we’re eliminating reflect the outcome of that review. They cut across Alphabet, product areas, functions, levels and regions.
To the Googlers who are leaving us: Thank you for working so hard to help people and businesses everywhere. Your contributions have been invaluable and we are grateful for them.
While this transition won’t be easy, we’re going to support employees as they look for their next opportunity (you can find more detail here).
In the U.S.:
| | • | | We’ll pay employees during the full notification period (minimum 60 days). |
| | • | | We’ll also offer a severance package starting at 16 weeks salary plus two weeks for every additional year at Google, and accelerate at least 16 weeks of GSU vesting. |
| | • | | We’ll pay 2022 bonuses and remaining vacation time. |
| | • | | We’ll be offering 6 months of healthcare, job placement services, and immigration support for those affected. |
| | • | | Outside the U.S., we’ll support employees in line with local practices. |
As an almost 25-year-old company, we’re bound to go through difficult economic cycles. These are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities.
Being constrained in some areas allows us to bet big on others. Pivoting the company to be AI-first years ago led to groundbreaking advances across our businesses and the whole industry.
