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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