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Activist Investor
TCI requests Google
Parent Company
Alphabet to
Cut Costs/Staff.
Following mass layoffs at #Twitter, #Meta and #SalesForces including eliminating employee free perks, benefits and lunches Google’s parent company Alphabet has been asked to cut staff and reduce salary expenses.
British activist hedge fund, TCI Fund Management, which holds a US$6 billion stake in Google’s parent company Alphabet, sent a letter of assessment to Alphabet Chief Executive Sundar Pichai on the tech giant’s ongoing cost base, recent “excessive” headcount growth and hoped Google could be 20% more efficient by trimming employees, with potentially lower salaries.
Alphabet previously mentioned on its third-quarter earnings forecast, a reduced pace of hiring in 2023.
#Twitter #Meta #AI #ArtificialIntelligence #Alphabet #SalesForces
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