Alphabet, Google's parent company, is planning to lay off nearly 10,000 low performing employees starting early 2023 amid investor demand to downsize and cut costs, according to a report by The Information.
The tech major reportedly has asked managers to identify 6 percent of its staff using a new performance management system. This accounts for around 10,000 people. With the new ranking system, managers could find out its underperforming employees and push out thousands of lowest-ranked employees. The managers could also use the ratings to avoid paying staff bonuses and stock grants.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.