- Financial Survival Network
- Posts
- What Alphabet’s Layoffs, Current Headcount, and Unemployment Claims Tell Us About the Erstwhile Tech Layoff Tsunami
What Alphabet’s Layoffs, Current Headcount, and Unemployment Claims Tell Us About the Erstwhile Tech Layoff Tsunami
by Wolf Richter Wolf Street
Tech & social media companies went nuts during the pandemic hiring-bubble, then sobered up. Now it’s already over.
In terms of actual workforce reduction, let’s look at Alphabet for a moment. In its earnings report on Tuesday evening, Alphabet disclosed that the “substantial majority of the employees affected by the reduction of our workforce” – the 12,000 layoffs announced in January – “are no longer included in our headcount as of June 30, 2023.”
As of June 30, Alphabet’s headcount, at 181,798 full-time employees, was down by 8,436 from the peak as of December 31, just before the announcement. Yet, year-over-year, compared to June 30, 2022, the headcount was still up by 7,784 employees.