Are More Layoffs Coming to Alphabet?

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) this month announced it was cutting 12,000 jobs as part of a plan to lower costs and pivot to new opportunities like AI, but one investor isn't satisfied. Activist investor Christopher Hohn of TCI Fund Management, which had pushed the tech giant to trim its workforce back in November and argued the company would be more efficient with fewer employees, is now calling for Alphabet to go even further with its cost-cutting. In a letter to Alphabet CEO Sundar Pichai, Hohn said, "The decision to cut 12,000 jobs is a step in the right direction, but it does not even reverse the very strong headcount growth of 2022."