Alphabet subsidiary Verily restructures to cut 15% of staff

[January 12, 2023](Comprehensive report by Epoch Times reporter Li Xin) Verily, a subsidiary of Google, isdownsizing15%, the health sciences-focused company is in the process of restructuring and trying to diversify finances from its parent companyalphabetIndependent from the company (Alphabet).

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“We are making changes to refine our strategy, optimize our product portfolio, and simplify our operating model.” Verily CEO Stephen Gillett (Stephen Gillett) in a blog on Wednesday (January 11) “We’re moving forward with fewer projects with more resources,” the post said.

Gillette sent an email to staff on Wednesday informing them of thedownsizingmatters. The company will cut 15% of its workforce, or more than 200 people, in the restructuring exercise, he said.

Verily isgoogle parent companyalphabet’s Health Sciences segment, operating under its “Other Bets” category.

Gillette’s email directed employees to work from home for the remainder of the week, as Verily’s physical offices will be closed on Thursday and Friday.

“Those who were in the office today can now go home,” the email said, making it clear that the directive also applies to employees working in Google offices.

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Gillette’s notice said the subsidiary would “reduce or eliminate” certain businesses while increasing investment in others. Specifically, Verily will discontinue some early products, including a “monitoring device for remote patients with heart failure and microneedles for drug delivery.”

“We couldn’t do everything and had to make some tough choices,” Gillette wrote, outlining several changes to executives.

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The email also said the company will hold an all-hands meeting on Jan. 18 to explain the changes in more detail.

The notice also said the company would send emails to employees either notifying them of their termination or of their new positions at Verily. Those working outside the U.S. will hear from their business leaders on Wednesday or Thursday.

The action isgoogle parent companyFor the first time in the current wave of layoffs, the number of employees has been significantly reduced. With the global economy weakening and inflation soaring, technology giants feared a recession and took measures to cut costs. Facebook owner Meta, Twitter, Amazon, etc. have all begun mass layoffs.

According to the data of the US human resources consulting company “Challenger, Gray & Christmas, Inc.”, the technology industry will lay off the most employees in 2022. It will lay off 97,171 people throughout the year, an increase of 649% over the previous year.

Responsible Editor: Ye Ziwei#