The decision may also seem inevitable given the challenges it has faced with profitability. Its profit margins declined 740 basis points year-over-year last quarter in the absence of job cuts, according to Bernstein estimates. Compare this to Microsoft, which plans to lay off. Its profit margins had declined just 180 basis points year-over-year, according to Bernstein estimates.
Wall Street had been skeptical that the company can avoid mass layoffs, and now they're finally here. It's possible that Google will weather the storm with smart targeted cutbacks and consolidation. "It's going to be increasingly difficult to weave an investor story for which they're willing to be patient without an announcement of some very real and immediate cost-cutting exercises," Mark Shmulik, senior analyst at Bernstein, told Insider.
In his blog post, Pichai said that"a rigorous review across product areas and functions" had been undertaken, with the roles being eliminated cutting"across Alphabet, product areas, functions, levels and regions." He did not specify which specific areas would be affected. Google's Pixel 7, Pixel Watch, and Pixel Buds.
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