The company’s shares have fallen by about 15% during the past year amid investor concerns about Google’s ad slump and worries about the company’s future prospects.
“Google’s core business is facing the most serious challenges it has encountered in quite some time,” Insider Intelligence analyst Max Willens said after assessing the first-quarter results., or 6% workforce, by far the biggest payroll purge in its history.
But the layoffs weren’t completed before the end of the quarter, leaving Alphabet with more than 190,000 employees as of March 31, roughly the same number it had Dec. 31 after the company added nearly 34,000 workers last year.Google is trying to counter the popularity of ChatGPT with its own alternative, Bard.
If people embrace ChatGPT and Bing as better ways to find what they are looking for, it could siphon away traffic from the Google search engine that has long been the internet’s main gateway.
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