• A brand-new performance management system has been unveiled by Google.
• Numerous thousand employees have been let go by Amazon, Twitter, and Meta.
• Underperforming employees could be fired thanks to a new performance management system.

According to reports, the multinational tech giant Google has implemented a new performance management system that could result in the termination of thousands of underperforming employees. This comes as major corporations are reportedly considering layoffs and a slowdown in hiring as a way to increase their profits.

According to a story by The Information, when it is introduced early next year, a new performance management system may allow human resource managers to fire underperforming Google employees. The tech magazine further claimed that Google's management may use the performance scores to forgo awarding incentives and stock options to workers.

According to reports, the previous performance evaluation method required managers to assign 2% of their workforce to this category. According to persons with knowledge of the new system, managers are required to label 6% of employees, or around 10,000 people, as low achievers in terms of their influence on the business, The Information reported, citing sources.

Several of the top international technological businesses, including Amazon, Twitter, and Meta, recently let go of thousands of employees. Elon Musk, the CEO of Twitter, had intended to cut around half of its 7,500 global staff after assuming control of the microblogging service.

The New York Times also reported last week that Amazon planned to let go of about 10,000 employees in corporate and technical jobs. These layoffs would be the largest in business history, according to the newspaper.

The parent company of Facebook, Meta, announced that 11,000 people, or 13% of its global workforce, would be let go. The massive layoffs represent the company's first round since it turned 18 years old. Microsoft reportedly had to make employee layoffs as well.