Google has become the latest tech company with plans to downsize its workforce amid a wave of massive layoffs in the the tech space and an ongoing economic crisis.
According to a report by The Information, the tech behemoth is planning to implement a new performance improvement plan that will help managers get insight into underperforming employees. These underperforming employees, estimated to be around 10,000 – may face possible job cuts.
Under the new system, managers have been asked to single out 6% of staff (an increase from the customary 2%), or 10,000 employees, who according to them are poor performers. Employees who receive low-performance ratings will be let go.
Apart from using the new system to trim the workforce, tech giant’s managers could also employ the performance ratings to lower the perks bonuses and stocks- offered to employees.
If Google moves ahead with the current plant to lay off 10,000, employees, it will join the ranks of Big Tech like Amazon, Facebook parent-Meta, Twitter, and very recently TikTok which have announced the layoffs of thousands of their employees in the last few weeks.