BENGALURU: Parent company of Google – Alphabet – will moderate its hiring in the fourth quarter. The company’s CEO Sundar Pichai said in the earnings call that Q4 headcount addition will be significantly lower than Q3.“We have been clear that we are going to moderate our pace of hiring in Q4 as well as 2023. We are seeing a lot of opportunities across a whole set of areas. Talent is the most precious resource,” he said.
He added, “So we are constantly working to make sure everyone we have brought in is working on the most important things as a company... we are reviewing projects at all scales pretty granularly to make sure that we have the right plans there.” The company’s total number of employees as of September 30, 2022, stood at 1,86,779. In the same quarter last year, it was 1,50,028.
Alphabet’s profits were below expectations at $13.9 billion, down 27% y-o-y, compared to $18.9 billion in the year-ago period. The company reported $69.1 billion in revenues, up 6% YoY, in the third quarter. YouTube, which is owned by Google, ad sales fell 2% to $7 billion compared to $7.2 billion in the year-ago period. Pichai said AI is another transformation technology, and they will continue investments in it.