Google offers buyouts to staff in latest round of cost-cutting
It's not clear how many employees are affected, but the offers were made to staff in Google's search, advertising, research and engineering units, according to The Wall Street Journal.
'Earlier this year, some of our teams introduced a voluntary exit program with severance for U.S.-based Googlers, and several more are now offering the program to support our important work ahead,' a Google spokesperson, Courtenay Mencini, said in a statement.
'A number of teams are also asking remote employees who live near an office to return to a hybrid work schedule in order to bring folks more together in-person,' Mencini said.
The tech company started trimming its headcount in 2023, when it announced that it was laying off 12,000 staff as the economic boom that fueled demand for online services during the COVID-19 pandemic started to fade.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
27 minutes ago
- Mint
Wall Street Bonus Pool to Grow as Bank Revenue Boosted by Rally
(Bloomberg) -- The outlook for Wall Street bonuses is improving, with payouts now set to rise across most sectors of the finance industry as the market rebounds. After a tepid start to the year, investment bankers, hedge-fund employees and asset-management professionals are now poised to see higher year-end incentive pay in 2025, according to the latest report Tuesday from compensation consultant Johnson Associates Inc. That marks a turnaround from expectations set earlier in the year, when payouts were projected to decline in the wake of muted business activity amid a US trade war and geopolitical tensions. 'The year will end up broadly positive, which is a big change from what we were thinking three or four months ago,' Alan Johnson, managing director of Johnson Associates, said in an interview. 'Financial services have fared pretty well, and benefited in some cases from the volatility, and the up markets.' The new forecast follows an upbeat second quarter on Wall Street, where traders saw record revenue as uncertainty around tariffs and tax policy drove a surge of activity across the stock market. That volatility has fueled demand for trading, potentially driving bonuses for equity traders up as much as 30% this year. Their fixed-income counterparts could also see an increase, though more modest at 10% to 20%, according to the report. Optimism is growing in other corners of the finance industry as well. Investment bankers have started to see a pickup in mergers and acquisitions and other deal-related activity, which had been muted amid economic and geopolitical uncertainties. But the projected surge in M&A activity, spurred by a presidential administration seen as business-friendly, has yet to fully materialize. As a result, advisory-sector bonuses are set to rise no more than a modest 5% this year, but with a 'strong pipeline' of deals to come, Johnson Associates said in its report. 'Deals take months to close, so that will push it into next year,' Alan Johnson said. Corporate clients have also pulled back on stock sales amid the equity-market volatility. Bankers who help companies raise equity are likely to see bonuses that are flat to down 5%, while their counterparts in debt underwriting could see their payouts rise 10% to 15% as 'debt issuance trends higher as firms seek refinancing,' according to the report. Demand for wealth-management services could also see advisers' payouts rise as much as 5%, according to Johnson Associates. Similarly, those working in asset management could see an uptick of 2.5% to 7.5% as the market recovers from early second-quarter declines and margin pressures continue. Last year, Wall Street bonuses jumped across the board, with the total pool for payouts rising to a record $47.5 billion as industry profits soared, according to estimates by New York State Comptroller Thomas DiNapoli. The average annual bonus rose by almost a third, to $244,700, the first significant increase since the Covid-19 pandemic. With almost half of 2025 left to go, full-year forecasts could change — especially if the market dips, tariff negotiations go south or questions around the Federal Reserve's path toward lower interest rates go unanswered. Some businesses will be more affected by uncertainty than others, including retail and commercial banking. Employees in those fields could see their bonuses unchanged to down 5%, with worsening consumer credit scores and slowing loan demand putting pressure on their business, Johnson Associates said. Professionals in private equity and venture capital also face their own challenges amid a difficult fundraising environment, markdowns of assets and money sitting on the sidelines. Finance firms are also focused on managing their expenses, with artificial intelligence helping drive efficiencies, prompting increased scrutiny of staffing and compensation structures, Alan Johnson said. As automation accelerates, firms are reevaluating how and where talent is deployed across their companies, he said. 'In the short term, it's going to reduce headcount: 'We're not going to need 10 analysts, we're going to need five,'' he said. 'It will lead to efficiencies. And the people who remain will be paid even more.' More stories like this are available on
Economic Times
30 minutes ago
- Economic Times
Google takes a sharp jab at Apple's delayed Siri AI in new Pixel 10 ad campaign
Google is aggressively targeting Apple's Siri AI delay with a new ad campaign, teasing users to switch to Pixel 10 instead of waiting for Apple's promised features. The ad, released via Google India's Twitter, highlights the Pixel 10 Pro's sleek design and immediate AI capabilities. Tired of too many ads? Remove Ads Apple's Siri AI delay Tired of too many ads? Remove Ads Google's bold response What to expect from the Pixel 10 launch Industry and consumer reaction As anticipation builds for the launch of Google's Pixel 10 series in late August 2025, the tech giant has launched a bold new advertising campaign aimed squarely at Apple's ongoing delays with its AI-powered Siri a sharply pointed teaser video, Google mocks Apple's failure to deliver personalized Siri functionality, inviting users to 'just change your phone' instead of waiting for a feature that's been 'coming soon for a full year.'At WWDC 2024 , Apple unveiled ambitious upgrades to Siri, powered by what it calls " Apple Intelligence ." The update promised smarter, more personalized assistant capabilities—features such as personal context awareness, improved in-app control, and enhanced on-screen understanding. These were positioned as headline enhancements for the then-new iPhone 16 lineup, with Apple marketing the devices as ready to deliver these features nearly a year after the announcement, Apple has not released these new Siri functionalities. Multiple reports and a candid interview from Apple's Senior Vice President of Software Engineering Craig Federighi revealed that internal testing showed the AI features only worked reliably about two-thirds of the time. The architectural approach initially taken proved insufficient to meet Apple's high quality Apple confirmed that the rollout is now postponed until spring 2026, a full year behind schedule. This delay has fostered frustration among consumers and even prompted class action lawsuits alleging false on Apple's misstep, Google released a 30-second teaser video through its official channels, particularly Google India's Twitter (X) account. The ad's narrator says:'If you buy a new phone because of a feature that's coming soon… but it's been coming soon for a full year… you could change your definition of soon. Or you could just change your phone.' Though Apple is never named explicitly, the reference is ad showcases the Pixel 10 Pro in a new Moonstone color with smooth, Apple-esque visuals, hinting at the sleek design and advanced AI-powered capabilities the Pixel 10 line promises to deliver immediately. Playing in the background is an instrumental version of 'The Next Episode' by Dr. Dre, which some interpret as a subtle nod to Apple's 2014 purchase of Beats by Dre, adding further character to the cheeky plans to officially unveil the Pixel 10 series on August 20, 2025, with pre-orders starting the same day and shipments likely beginning August 28. The lineup is expected to include several models: Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. Alongside the smartphones, Google is likely to introduce the Pixel Watch 4 and next-generation Pixel Buds 2a The Pixel 10s are touted to have advanced AI integration from day one, sharply contrasting Apple's delayed rollout. Google's campaign clearly aims to position its phones as the superior choice for consumers eager to experience AI-enhanced smartphones without Siri delay has become a sore point not just among users but also across the industry. While Apple remains focused on quality and perfecting the technology, competitors are seizing the opportunity to take market share. The delay has also sparked legal challenges in the U.S., with some consumers alleging Apple misled customers by marketing AI features advertising tactic has been described as 'savage' by many tech commentators, highlighting a shift toward more aggressive competitive marketing in the smartphone space—particularly around generative AI and smart assistant features, which have become key battlegrounds.
Time of India
an hour ago
- Time of India
Internet sector can grow at double or triple the nominal GDP growth rate: Pankaj Murarka
Pankaj Murarka , CIO, Renaissance Investment Managers , says tariffs may not significantly hinder the overall economy. While consumption will be insulated due to domestic focus, economic momentum is slowing post-Covid. Moderate growth and slower earnings are present. High growth exists in specific market areas. The internet sector shows 25-30% growth. Some internet companies can sustain growth at double or triple the nominal GDP growth . It has been a show of resilience for the past two days at least. It seems like all the negative was already done with. All through July, we have had a consistent FII selling. The index alone has lost about 900 odd points or so. Do you think the worst is behind us? Pankaj Murarka: For the time being, it looks like some of this bad news is in the price. Directionally, we are still very much in a bull market. I see any fall as a correction in the larger bull market. I still think that the index can do about 12-13% CAGR returns this year and probably over the next two to three years. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program In that context, probably first quarter numbers have been pretty much okay. The good thing is that we have arrested the earnings downgrade cycle and now incrementally earnings have stabilised. Hopefully from the second half of the year, we should see improvement in earnings going ahead. A fair bit of monetary and fiscal stimulus has been injected into the economy in the budget through tax cuts and then by RBI with a front loading of 50 basis points rate cut. Combining all of that, I am looking forward to a much better economy in the second half of the year and an uplift in earnings growth . I would think that the market should find a floor somewhere around these levels over the next few weeks. Coming to earnings, what is going to lead the recovery first and would it be more consumer facing sectors because they also are working with a low base? Pankaj Murarka: True, but before that let me just put the aggregate picture in play. Last year, we had probably one of the slowest earnings growth. In the last five years, post Covid at 5% for Nifty 50 index and the earnings growth for top 200 companies was not very different at about 7 odd percent. So, it was probably one of the slowest earnings growth in the last five years. While we will see some improvement in earnings this year, I must concede that earnings growth this year will not be very significant. If we can do a low double digit, around 10% growth on the Nifty index for Nifty index companies, that will not be a bad outcome. Probably next year is when we get into mid-teens kind of earnings growth. So, it will be a gradual recovery cycle both on the economy and earnings, and that is the one point I wanted to say. Live Events You Might Also Like: In healthcare, betting on these 4 segments; FMCG could be a tactical play: Mihir Vora Obviously, you are right that there is a skew in terms of earnings. I still think that financials are coming off a low base and given that the margins have been impacted in the first quarter and probably the first half because of the front load rate cuts by the RBI, in the second half of the year we probably would see earnings recovery in financials and so that should lead. I agree with you that we are probably coming out of almost two-and-a-half years of consumer slowdown, and so probably in the second half of the year, we should see an improvement in earnings trajectory for consumers as well. But the bigger concern is what happens with respect to the tariff and in this uncertain time, have you spotted any sectors which you believe will be insulated from the tariff tantrum? Pankaj Murarka : Yes, it is a pretty unwelcome move in terms of the tariffs that we will end up facing. But I still think that those are transitory and eventually these are all bargaining tactics. Eventually India and the US will have a deal in place. Now whether that happens in 8 weeks or 12 is anybody's guess. I still think that the long-term effective tariffs on India will be much lower than what it has been proposed. Having said that, tariffs will have some impact especially on highly export dependent sectors like textiles, gems and jewelleries and few others. On the aggregate growth basis, I still think the aggregate negative headwind that will emerge from tariffs for the economy is still moderate and manageable. Probably a 30-40 basis points hit on the aggregate GDP and despite tariff headwinds, India can still do a 6.2-6.3% growth this year which is similar to what we did last year at 6.5%. You Might Also Like: Jaiprakash Toshniwal sees value in 3 segments; goes contra on IT & specialized capital goods At the aggregate level, I still think tariffs are not a big headwind for the economy as a whole. Yes, consumption will be one of those pockets given that complete domestic orientation will remain insulated from it. All of us have to consider that there is a downward reset in terms of economic momentum from what we saw post Covid. So in an environment where economic growth is moderate and earnings have slowed down, high growth can be seen in some pockets of markets. My favourite sector is the internet sector and that is the sector where we are seeing growth still at 25-30% and many companies in that sector can sustain growth which can be 2x or 3x of the underlying nominal GDP growth. So, it probably remains one of my preferred places to find high growth companies in an economy and market where there is an earnings slowdown. You Might Also Like: Is 25% tariff on India the worst-case scenario? How long will it take markets to price that in? BlackRock's Gargi Chaudhuri answers
