If anyone at Gooogle is wondering why they are going through this pain or might have been fired it is because TCI, which is an activist hedge fund, decided they want to make more money and they have a giant share of ownership of Alphabet stock.
TCI sent Google a letter [1] telling them they need to cut people to get higher margins (>40%) as well as pay the investors more (stock buybacks).
Google is choosing to do what this group of investors says instead of supporting it's employees.
Edit: This data came from me asking myself of the headline "ok who is it that is putting "Pressure to Cut Costs" on Google." Luckily TCI made it really clear
TCI sent Google a letter [1] telling them they need to cut people to get higher margins (>40%) as well as pay the investors more (stock buybacks).
Google is choosing to do what this group of investors says instead of supporting it's employees.
Just so you know.
[1] https://www.tcifund.com/files/corporateengageement/alphabet/...
Edit: This data came from me asking myself of the headline "ok who is it that is putting "Pressure to Cut Costs" on Google." Luckily TCI made it really clear