Wed, 23 Nov 2022 11:31 AM IST
AMID layoffs and a slowdown in the hiring process is being seen by huge corporations as a way to boost their earnings, global tech major Google has introduced a new performance management system that could fire thousands of underperforming staff, reports said. This comes after top tech companies, including Meta, Twitter and Amazon fired thousands of employees across the globe in the last few weeks.
Multiple news reports quoted technology-focused publication The Information making a mention of the new performance management system, which once put into place at the beginning of the next year, can allow human resource managers to fire Google employees who aren't performing up to par.
The publication also said Google's managers could also use the performance ratings to avoid paying employees bonuses and stocks.
"Under the new system, managers have been asked to categorize 6 per cent of employees, or roughly 10,000 people, as low performers in terms of their impact on the business," The Information, cited by ANI reported quoting people with knowledge of the new system.
Recently, Twitter CEO Elon Musk fired roughly two-thirds of the 7,500 employees of the micro-blogging platform in the first three weeks following his takeover. However, Musk on Tuesday said the company has done with layoffs and has begun hiring once more.
At a meeting with employees, he also claimed that Twitter is now actively hiring for positions in engineering and sales. But he did not specify which exact technical or sales positions the company was seeking.
Further, the New York Times last week reported that Amazon too was planning to lay off approximately 10,000 employees in corporate and technology roles. The report said the cuts would be the largest in the company's history.
Facebook's parent company, Meta, had announced that it was laying off about 11,000 employees, or 13 per cent of its global workforce. It's the first mass redundancy exercise for the 18-year-old social media behemoth. Reports also said Microsoft too has enforced job cuts.