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Alphabet's Google (GOOGL) is undergoing another round of layoffs, with at least 100 employees let go from various teams within its cloud unit, according to a CN

Google Cloud Unit Hit by Layoffs

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Alphabet's Google (GOOGL) is undergoing another round of layoffs, with at least 100 employees let go from various teams within its cloud unit, according to a CNBC report on Monday.

Affected Positions

The job cuts reportedly spanned across several departments, including:

  • Sales
  • Operations & Engineering
  • Consulting
  • Go-to-Market Strategy

Official Statement

A Google spokesperson acknowledged the layoffs in a statement to Reuters, emphasizing the company's evolving strategy to align with customer needs and future opportunities. They reiterated Google's commitment to investing in critical areas for long-term success.

Previous Job Cuts

This news follows similar workforce reductions at Google earlier this year. The company laid off an undisclosed number of employees across different teams in April, followed by another round in January that impacted hundreds. These cuts reflect a broader trend of cost-containment measures within the tech industry amidst economic uncertainties.

Industry Context

The Google Cloud layoffs align with a wave of job cuts across the technology and media sectors. Companies are re-evaluating their workforces in response to a changing economic landscape.

Industry PE Ratio as a Valuation Tool

For investors interested in comparing Intel's valuation relative to its industry peers, the Financial Modeling Prep (FMP) Industry PE Ratio API (https://intelligence.financialmodelingprep.com/developer/docs/industries-pe-ratio-api) provides a valuable resource. This API offers daily updated industry PE ratios, allowing you to assess whether the technology sector, where Intel operates, is currently overvalued or undervalued. By leveraging this API and similar valuation tools, investors can make more informed decisions about their technology holdings.

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