Google’s parent company, Alphabet, is extending buyout offers to US-based employees in its search and ads division. The move comes as the tech giant faces mounting competition from AI systems like ChatGPT and follows a significant setback in a US antitrust case that could restrict its ability to distribute its search product.
According to reports, Google has introduced a voluntary exit program with severance for U.S.-based workers earlier this year. This program is now being expanded to support the company’s “important work ahead.” Industry observers are noting that such buyouts often precede more extensive workforce reductions, raising questions about Alphabet’s future staffing plans.
Alphabet shares initially turned negative on the news but recovered, trading up 0.9% despite earlier gains of 2%. The offer is part of a broader effort to adapt to changing market conditions and compete with emerging technologies.
Source: https://www.investing.com/news/stock-market-news/alphabet-stock-pares-gains-on-buyout-offers-to-search-and-ads-employees-4089561