Re:Google blew it with open source layoffs
by poppytaker on Sunday May 21, 2023 @02:21AM
(#36018478)
Cloud under their previous accounting policy is still losing money. (I.e. the change in depreciation rates to lower how much is expensed each year)
Google 2022 net income was nearly 60B. 20% down from 2021, when there still was a pandemic, but in 2020 net income was 40B.
They still are making a tons of money while trying very hard to cripple their future of every product but search ads, and everybody says Google search worsened last years.
ChatGPT is still a niche, but when many people will have used it at work they may very well use it at home.
Two things investor are recently asking for is reduction in workforce and rationalizing compensation. First one is done to an extent. Second one likely be agenda in coming months and years.
So all in all Google is doing fine and board or investors have no need to be concerned with CEOs. It may change though if competitors do hurt google business in material ways in future.