According to reports, global tech giant Google has adopted a new performance management system that could fire thousands of underperforming staff, amid layoffs and a slowdown in hiring being considered by huge corporations as a way to boost their earnings.
According to a story by The Information, when it is introduced early next year, a new performance management system may allow human resource managers to fire underperforming Google employees.
The tech magazine further claimed that Google’s management may use the performance scores to forgo awarding incentives and stock options to workers.
The Information quoted sources familiar with the new method as saying that “under the new strategy, managers have been tasked with identifying 6 percent of employees, or roughly 10,000 persons, as low achievers regarding their impact on the firm.”
According to reports, the previous performance evaluation approach required managers to assign 2% of their workforce to this category.
Twitter, Amazon and Meta are a few of the leading global big tech companies that recently let thousands of workers go.
After taking over the microblogging platform, Twitter CEO Elon Musk planned to reduce its 7,500 global employees by about half.
The New York Times also reported last week that Amazon planned to let go of about 10,000 employees in corporate and technical jobs. These layoffs would be the largest in business history, according to the report.
Meta, Facebook’s parent company, announced that 11,000 people, or 13% of its global workforce, would be let go. The massive layoffs represent the company’s first round since it turned 18 years old.
Microsoft reportedly had to carry out employee layoffs as well.
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