Staff Reports
The shaky global economy is to blame for Google's decision to hire fewer employees this year.
In the future, Google's CEO Sundar Pichai stated that the business would "pausing development" and "re-deploying resources to higher priority areas." Insiders were the first to divulge the information.
“The uncertain global economic outlook has been top of mind. Like all companies, we’re not immune to economic headwinds,” Pichai said in the memo.
With record inflation, rising oil costs, and food shortages negatively impacting the global economy, the company's first-quarter growth fell to 23 percent.
Pichai said that for the rest of the year, Google will be “slowing the pace of hiring for the rest of the year while still supporting our most important opportunities.”
“For the balance of 2022 and 2023, the company will focus on hiring on engineering, technical, and other critical roles,” he said.
By not recruiting as many workers for the remainder of this year, the third-largest corporation predicts a job market disaster. This is another illustration of how poorly Vice President Biden handles money.
Google has performed successfully in both prosperous and difficult times for the technology industry and economy. After the 2008 financial crisis, the internet giant was forced to temporarily suspend its primary advertising business and unprofitable industries, like as smartphones, autonomous vehicles, and wearable technology. As a result, more employees have been hired.
According to Bloomberg, firms are not increasing wages as much as they did last year. Employers, business owners, and recent studies concur that corporations are getting more frugal.
Jonas Prising, CEO of ManpowerGroup Inc., stated, “We’ve reached a level of wage inflation where employers are going to say, ‘I’ve done as much as I can,'”
“My consumers and customers aren’t going to accept me passing these costs on any further, so we need to start to mitigate them,” Prising added.
Google will be the first to acknowledge that the economy has a problem. This week's inflation data may indicate that there are still concerns over the labor market and the economy. Biden asserts that he generates employment, while his economic policies may have the reverse impact.
The preceding is a summary of an article that originally appeared on GatewayPundit.
