Google offering voluntary exit program with 14-week severance: Report
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Synopsis
Google is offering a Voluntary Exit Program to employees in the US across various departments. The severance package includes 14 weeks of pay, plus additional weeks based on years of service.
Google, a major tech company operating globally, including India, has recently implemented job cuts to reduce expenses. The rise of Artificial Intelligence has also contributed to these reductions. After laying off 200 employees last month, Google is now introducing a new approach to job cuts through a Voluntary Exit Program (VEP).
Settlement Payment Offer
According to a CNBC report, Google has already implemented the VEP across most departments. Employees are being offered a severance package including 14 weeks of pay, plus additional weeks based on years of service. This program encourages employees to voluntarily resign.
Google plans to reduce its workforce across various departments, including Knowledge and Information, Central Engineering, Marketing, Research, and Communications. The Knowledge and Information department alone has approximately 20,000 employees. Google aims to cut costs and eliminate redundant roles due to AI integration.
US Employees First Target
Google's VEP initially targets employees in the United States, with specific reduction targets for each department. Previously, Google announced a plan offering a settlement amount to employees who voluntarily resign. Additionally, employees working from home have been asked to return to the office. Those who wish to continue working remotely face the risk of job loss due to downsizing.
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