“Over the past two years we’ve seen periods of dramatic growth,” Google CEO Sundar Pichai said in an email to employees. “To match and fuel that growth, we hired for a different economic reality than the one we face today.”
“As we saw customers accelerate their digital spend during the pandemic, we’re now seeing them optimize their digital spend to do more with less,” Microsoft CEO Satya Nadella said in a letter to workers on Jan. 18. “We’re also seeing firms across all industries and geographies exercise prudence, since some regions of the world are in a recession and others are preparing for one.”
