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Google Businesses

Google Announces Hiring Pause (theinformation.com) 24

Posted by msmash from the how-about-that dept.
Google said it will pause hiring for two weeks, after saying last week it would slow its pace of hiring for the rest of the year. From a report: In an email to employees viewed by The Information, Prabhakar Raghavan, a senior vice president at Google, said the hiring pause would not impact offers that had already been extended to applicants, but that Google would not make any new offers until the pause was over. "We'll use this time to review our headcount needs and align on a new set of prioritized Staffing Requests for the next three months," Raghavan said.
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Google Announces Hiring Pause More

Google Announces Hiring Pause

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  • Dead canaries... (Score:3)

    by AmazingRuss ( 555076 ) on Wednesday July 20, 2022 @01:32PM (#62719424)
    ... everywhere you look. Housing, banking, tech, autos... all were sustained by negative real interest rates. They're already tanking with somewhat less negative interest rates. When rates actually turn positive, there will be a bloodbath.
    • "Tanking" and "bloodbath" are strong words. Some reduction in demand is necessary to stem inflation. How are you so sure they've overcorrected?

      • Re: (Score:1, Flamebait)

        by rsilvergun ( 571051 )
        The problem is that in housing most of the demand isn't from home buyers, it's from rent-seeking investors. That's rapidly making home ownership, or just having your own freaking bedroom, out of reach for people. In American. In a country where everyone is armed to the teeth by design...

        I don't think we've thought this all the way through...
        • But then you look at the home ownership rate [advisorperspectives.com] and it's still moving around within its historical norm. Or to be more specific, higher than ever excluding the 00's run-up to the great recession.
          • So that's because people are being forced out of apartments into extremely high cost mortgages in a desperate attempt to lock in a monthly cost to keep a roof over your head. The problem with that is they're taking mortgages they can't afford if they get laid off. They are very rapidly going to lose those houses and then those houses are being bought up by investors who turn around and rent them right back to them. The rents are higher than their mortgage because they have to be the cover the cost of the lo

            • The problem with that is they're taking mortgages they can't afford if they get laid off.

              That's pretty much always the case. Some people have some savings that they can rely on for some amount of time but in general you can't afford to pay for a house without a job.

        • The problem is that in housing most of the demand isn't from home buyers, it's from rent-seeking investors.

          Most? That's a radical claim. Cite?

    • Here's the federal chair talking about using interest rate hikes to lower your pay. [mronline.org]

      Folks talk about how bad "free money" is, but if your economy is growing you need that money. Ours is. The real problem here is you and me aren't seeing any of that growth in our paychecks. This in turn has lead to less goods and services being made, and worse it's encouraged rent-seeking behavior since we're increasingly only buying necessities, so if you wanna chase American dollars the only place to go is food, rent, t

  • Hands Off My Bonus! (Score:3, Insightful)

    by aerogems ( 339274 ) on Wednesday July 20, 2022 @01:39PM (#62719458)

    While I'm generally all in favor of careful hiring practices that ensure you have a stable workforce to meet your expected long-term demand... Google makes billions in profit every quarter. They can afford a few extra headcounts. This is all about trying to keep the stock price high by making Wall Street think it's running lean and mean, and protect bonuses for executives.

    • Re:Hands Off My Bonus! (Score:4, Insightful)

      by timeOday ( 582209 ) on Wednesday July 20, 2022 @02:08PM (#62719560)
      More and more I see people online balking about "what a business could afford" and accusing them of spending less as if it were an allegation. Businesses don't spend money simply because they could "afford" it any more than you do. You could afford to send me $20, couldn't you?

      • You could afford to send me $20, couldn't you?

        I'd like to get in on that action as well! Could you make it $100 though?

      • Maximum profits occur when gross margin is zero. If your margin is greater than zero you increase profit by growing. The limit of that growth is when you have driven the margin to zero (a limit on size) or you have spend as much as you can right now to grow (a limit on rate), i.e. growing as much as you can afford.

        Since I derive no revenue from sending you $20 my margin is negative infinity. Therefore it does not matter if I can afford it or not.

        The point is that growth is being slowed because management is

  • Just Two Weeks? (Score:3, Funny)

    by SuperKendall ( 25149 ) on Wednesday July 20, 2022 @01:49PM (#62719490)

    Two weeks to flatten the curve!

  • Unemployement 3.6% (Score:3)

    by jellomizer ( 103300 ) on Wednesday July 20, 2022 @03:33PM (#62719828)

    For these companies putting in hiring freeze. I think some of the readjustment that is needed to is account for the fact that there isn't a large labor pool anymore to hire. Those who they are settling to hire, are a lot less skilled and paying them a better starting salary then what was typical.

    I know at my workplace, for an Analyst III position back 5 years ago. We would be interviewing folks with 10years experience, and with masters degrees. Today we are interviewing folks without college degrees and had just dropped out of college with no real experience. There is a point where one needs to realize they cannot operate the same as they did before, with staff available to hire. So other than trying to hire more under-qualified folks, you may need to take a step back and reevaluate your growth plans and how you manage your business.

    • Yep this is very true. When this whole thing started, the hiring team at my previous company went on a road show to ask managers that we stop considering credentials like schooling, GPAs, test scores, and pushed hard to reduce the number of rounds and complexity of interviews. Their message at the time was a bit obfuscated and they made a spurious connection to wanting to improve workplace culture. In hindsight, they were having trouble hiring from the exact same pool of candidates everyone was pulling f
    • I don't think Google is running out of people to hire. There is still a line a mile long to get in there.

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