Google layoffs in 2024: What you need to know about Google's latest round of layoffs

Google's layoffs are underway as Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) subsidiaries implement further layoffs.

Google confirmed the latest round of layoffs, but did not provide specific details. That means it's not yet known how many employees are out of work. It stated that the employee was allowed to apply for other open positions within the company.

Still, workers are announcing layoffs on social media. This shows that members of several teams at Google are dealing with layoffs. Some of them are former employees of the Flutter, Dart, and Python teams.

Here's what a Google spokesperson told Business Insider about the layoffs:

“As we have said, we are investing responsibly in the company's biggest priorities and the important opportunities ahead. To best position our company for these opportunities, In late 2023 and into 2024, we made changes to help many of our teams work better and more efficiently, removing layers and aligning resources to our biggest product priorities.”

Google expands trend of layoffs

Google isn't the only company laying off employees, and it continues to be a major player among companies that do so. Many large tech companies are cutting jobs in 2024 to reduce operating costs and streamline operations.

This comes as economic factors continue to weigh on businesses. This includes interest rate hikes introduced by the Federal Reserve to combat rising inflation. This is having a negative impact on both consumers and businesses.

As of Tuesday morning, both GOOGL and GOOG stock were down slightly.

Investors will want to continue reading more of the latest stock market news.

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On the date of publication, William White did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing Guidelines.

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