The parent company of Google, Alphabet, is reportedly undergoing significant changes within its innovation lab, X, as part of a broader structural shift. The move involves job cuts and increased talks about funding with venture capitalists and other investors, sources familiar with the matter informed Bloomberg.
Established in 2010 by Google co-founders Larry Page and Sergey Brin, X is described as a diverse group of inventors and entrepreneurs dedicated to developing groundbreaking technologies aimed at solving some of the world's most challenging problems. Over the years, the lab has incubated numerous ambitious projects, often referred to as "moonshots," with many evolving into independent businesses.
Recent months have seen heightened discussions within X regarding funding, with the aim of accelerating the launch of innovative projects. These talks involve engagement with venture capitalists and other investors to expedite the development of technologies that could potentially reshape the future.
New Structure Facilitates Swift Project Independence
The lab's new structure, as reported by Bloomberg citing insider information and an email to staff, is designed to facilitate the rapid spin-out of projects into independent businesses. This transition, however, comes at a cost, impacting support staff roles within the lab. The exact number of roles affected has not been disclosed.
This development follows Alphabet's announcement of job cuts within Google, with a focus on cost-cutting measures. As Alphabet navigates these internal transformations, the tech industry watches closely to understand the broader implications and strategic shifts within one of the world's most influential companies.
Google Announces Impactful Job Cuts Across Key Units
In the latest wave of organizational adjustments, Google is set to impact a substantial number of employees, particularly in its voice assistant unit, augmented reality hardware team, and central engineering team. The ripple effects extend to global teams as the tech giant makes strategic moves in the fiercely competitive realm of artificial intelligence (AI).
Several hundred employees engaged in the development of the company's voice assistant unit and augmented reality hardware team will be affected by the announced cuts. Additionally, a few hundred roles within the central engineering team are set to be impacted, marking a significant downsizing within critical segments of Google's operations.
The repercussions of these cuts extend beyond local teams, affecting global personnel as Google navigates its position in the evolving landscape of AI. The move comes as the company faces stiff competition from industry counterparts such as Microsoft, Amazon, and Meta, all of whom are heavily investing in AI advancements.
Google has been actively positioning itself in the race for AI dominance, with a focus on its chatbot Bard. The tech giant aims to outpace rivals by leveraging innovative technologies to shape the future of AI. The ongoing organizational changes are seen as strategic maneuvers to stay ahead in this competitive landscape.
The recent layoffs follow closely on the heels of Google CEO Sundar Pichai's announcement, detailing the company's initiative to trim its workforce by 12,000 roles in response to challenging economic conditions. Said layoffs is about "removing layers to simplify execution and drive velocity in some areas."
RELATED ARTICLE: Macy's Store Closing and Layoffs 2024: Here's the Full List of Locations As Company Reduces Total Workforce to 3.5%
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
