Alphabet plans to cut personnel growth in the fourth quarter by half.
- On October 25, Alphabet CEO Sundar Pichai announced they would halt hiring in Q4 2022 and 2023 due to the online advertising market’s prolonged decline.
- “We’re concentrating on product and business priorities. Q4 will see fewer hires than Q3. In 2023, we’ll continue to make key trade-offs and moderate operational expense growth “Pichai stated on October 25’s results call.
- Google parent Alphabet added 12,765 personnel in Q3, including 2,600 from its Mandiant acquisition, to reach 186,779 worldwide.
- Alphabet CFO Ruth Porat said “headcount additions (in Q4) will drop to less than half the quantity added in Q3” on the call. “For important roles, particularly focused on top engineering and technical expertise,” they will continue hiring.