According to a memo shared by Google CEO, Sundar Pichai, to the employees, the company is slowing down the hiring process for the rest of 2022. The copy of the memo received by the international media outlet reads; “The uncertain global economic outlook has been top of mind. Like all companies, we’re not immune to economic headwinds. Something I cherish about our culture is that we’ve never viewed these types of challenges as obstacles. Instead, we’ve seen them as opportunities to deepen our focus and invest for the long term.” “For the balance of 2022 and 2023, we’ll focus our hiring on engineering, technical, and other critical roles, and make sure the great talent we do hire is aligned with our long-term priorities.”
Pichai Calls on Googlers to be “More Entrepreneurial”
Sundar asked his employees to be more entrepreneurial, work with greater urgency, have sharper focus, and show more hunger than they have shown on sunnier days. The chief Googler went on to say the company would consolidate where investments overlap and streamline processes. In other cases, that means pausing development and re-deploying resources to higher priority areas.
The memo ends on the following note; “Scarcity breeds clarity — this is something we have been saying since the earliest days of Google. It’s what drives focus and creativity that ultimately leads to better products that help people all over the world. That’s the opportunity in front of us today, and I’m excited for us to rise to the moment again.”
Read More: Twitter Lays Off 30 Percent of its Employees in the Talent Acquisition Team
Why Most of the Companies are Slowing Down the Hiring Process
We have seen various companies slowing down the hiring process citing inflation and recession concerns. The other major reasons that are pushing companies to freeze hiring are as follows:
- The poor economic conditions have created the worst environment for companies & investors
- Investors are gaining low to almost no profit which is why they are not willing to re-invest money into the market.
- Due to high GST rates, the companies are finding it difficult to sustain themselves hence they are unable to run regular operations
