Staff Reports
According to estimates, Google will "slow down recruiting for the rest of the year" due to "uncertain global economic outlook."
CEO Sundar Pichai stated Google would would be “pausing development” in some cases and “re-deploying resources to higher priority areas.” Insider first reported the news.
“The uncertain global economic outlook has been top of mind. Like all companies, we’re not immune to economic headwinds,” Pichai added.
As the global economy struggles from record inflation, increasing oil prices, and food shortages, the company's first-quarter growth fell to 23%.
Pichai stated Google will be “slowing the pace of hiring for the rest of the year while still supporting our most important opportunities.”
Pichai stated Google will be “slowing the pace of hiring for the rest of the year while still supporting our most important opportunities.”
“For the balance of 2022 and 2023, the company will focus on hiring on engineering, technical, and other critical roles,” he said.
Third-largest company's plans to limit recruiting for the rest of the year suggest an employment market catastrophe. It's the latest sign of Biden's economic mismanagement.
Google has mostly avoided the tech sector's business cycle and economic troughs. While the internet behemoth suspended recruiting following the 2008 financial crisis, it has subsequently employed additional personnel for its primary advertising business and unprofitable sectors like cellphones, self-driving vehicles, and wearable technologies.
Bloomberg reports that corporations are reducing pay raises over the prior year. According to employment providers, company owners, and recent research, corporations are becoming more careful with cash.
Jonas Prising, CEO of ManpowerGroup Inc., said “We’ve reached a level of wage inflation where employers are going to say, ‘I’ve done as much as I can,'”
“My consumers and customers aren’t going to accept me passing these costs on any further, so we need to start to mitigate them,” Prising said.
Google will announce the recession. This week's inflation data may reveal job market and economic uncertainties. Biden professes to create employment, yet his economic policies may kill them.
The preceding is a summary of an article that originally appeared on GatewayPundit.
