Google spent billions of dollars to lay people off
by Amrita Khalid from The Verge - All Posts on (#6J8QM)
Illustration: The Verge Google spent $2.1 billion on severance and other expenses as it laid off more than 12,000 employees over the course of 2023. And the layoff charges keep coming: in just the one month of 2024 so far, the company has already spent $700 million on employee severance charges as part of layoffs targeting another 1,000-plus roles. Alphabet, Google's parent company, revealed the figure alongside its fourth-quarter earnings release on Tuesday.
Despite the cuts, Google ended 2023 with growth across most of its core business lines. Google posted $86 billion in revenue for the fourth quarter of 2023, a 13 percent increase year over year. The search giant's core digital ads and cloud computing businesses also showed steady growth, which CEO Sundar...