According to reports, global tech giant Google has adopted a new performance management system that may fire thousands of failing staff, amid layoffs and a slowdown in recruiting being considered by huge corporations as a way to boost their earnings.
According to a report by The Information, when it is implemented early next year, a new performance management system may allow human resource managers to fire underperforming Google employees.
The tech magazine also claimed that Google's managers could use the performance ratings to forgo awarding bonuses and stock options to workers.
According to The Information, which cited sources with knowledge of the new system, "under the new approach, managers have been instructed to categorise 6 percent of employees, or around 10,000 people, as low achievers in terms of their influence on the business."
Managers were reportedly expected to place 2% of employees in such category under the prior performance assessment method.
Amazon, Twitter, and Meta are a few of the leading global technology 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.
Additionally, the New York Times revealed last week that Amazon also intended to fire roughly 10,000 workers in corporate and technology positions. According to the report, these cuts would be the biggest in company history.
Facebook's parent company, Meta, said that 13% of its global staff, or around 11,000 people, will be let go. It's the 18-year-old social media behemoth's first round of major layoffs.
According to reports, Microsoft has also had to make employee layoffs.
