The current global macroeconomic conditions are pushing both big and small firms to take drastic measures to cut costs. The Other Bets branch of Google’s parent firm, Alphabet, is also joining other digital titans in laying off staff. 

Due to the macroeconomic climate, Alphabet’s Intrinsic robot software company is letting go of 40 staff, according to TechCrunch. The software development company was reportedly bought less than a month ago.

“Intrinsic’s leadership has made the tough choice to let go of a few of our team members. It will make sure Intrinsic can continue to devote resources to our highest priority initiatives, like developing our software and AI platform, integrating the recent strategic acquisitions of Vicarious and OSRC (commercial arm Open Robotics), and collaborating with key industry partners,” said the publication’s source. 

Not only Intrinsic, but other Alphabet-owned companies are also firing employees. For instance, Verily, the Alphabet-owned health-focused startup, recently revealed that 15% of its employees will be let go as part of a reorganisation effort.

“Due to cancelled programs, we had to remove around 15% of Verily’s positions. Assuring that these Veeps have the assistance they require to make their transitions easier is our top concern right now,” said the same report. 

Some of the major companies that have kicked out their employees in 2023 are Vodafone, BlackRock, Coinbase, Amazon, Salesforce, Morgan Stanley, McDonald's, Goldman Sachs, and others.