Sundar Pichai, CEO of Google—one of the top employers of b-school grads in the technology industry—informed employees that layoffs were on the horizon in 2024 via an internal memo on Wednesday. 

The memo indicated the Alphabet-owned company will make cuts affecting multiple areas as the firm invests in “big priorities” moving forward. Though Pichai said the cuts would not reach the levels of early last year, when 12,000 Alphabet staff were laid off.

The memo revealed layoffs would target areas where layers could be removed to simplify execution and drive velocity. 

Recently, a survey of global CEOs highlighted their belief that the onset of generative artificial intelligence will lead to job cuts this year. 

Google’s announcement indicates the wave of redundancies that spread across the technology industry in 2023 will continue into this year. Already, companies such as Spotify and Twitch have laid off staff. 

In early 2023, layoffs hit a peak with the likes of Amazon, Microsoft, and Meta cutting tens of thousands of staff in response to economic difficulties and a new post-pandemic work environment. 

Cuts were also prominent outside of the tech industry, with top finance employers such as Goldman Sachs and BlackRock laying off staff, and Big Three consulting firm McKinsey reducing its back office employee headcount.