News Update
Alphabet Trims Global Recruiting Team Amid Slower Hiring and Focus on AI Investments
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ByStartupStory | September 14, 2023
Alphabet, the parent company of Google, is reportedly downsizing its global recruiting team by eliminating hundreds of positions as it slows down hiring. This reduction in force is not a large-scale layoff, and Alphabet intends to retain most of the team to focus on recruiting for critical roles.
The company is assisting affected employees in finding new opportunities, both within and outside the organization. Alphabet’s move makes it the first major tech firm to initiate layoffs in the current quarter, following similar actions by industry peers like Meta, Microsoft, and Amazon earlier in 2023. In January, Alphabet had already reduced its workforce by approximately 12,000 employees, accounting for about 6% of its global workforce.
Speaking about the headcount during the second-quarter earnings call, Sundar Pichai, Chief Executive Officer of Alphabet and Google, said, “We continue to slow our expense growth and pace of hiring and ensure our teams are aligned to our highest priorities.”
As of June 30, 2023, Alphabet employed a total of 181,798 individuals. Sundar Pichai, CEO of Alphabet and Google, noted during the second-quarter earnings call that they were slowing expense growth, reducing hiring speed, and aligning teams with their highest priorities while simultaneously increasing investments in artificial intelligence.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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