On Monday, the parent company of Google, Alphabet (GOOGLE), announced that it now has about 103,549 employees as part of its workforce. Keep in mind that at the beginning of last year, the company had just 85,050. This means that the company has employed up to twenty thousand people within a 12 month period. This isn’t a surprise since the company has branched into new areas over the last few years including the production of self-driving cars, cloud computing, hardware manufacturing, and many more.
The CEO of Alphabet, Ruth Porat, during a conference call with market analysts, said that most of their new employees came from the cloud computing sector as the company is in a race with Microsoft and Amazon to dominate the cloud computing sector. In its Q1 2019 report, the company made $36.3 billion in revenue. About 85% of that amount came from its advertising business. The report also reflected a 17% increase in revenue from the Q1 of 2018.
On Monday, however, the company’s stock fell by 7% right after the report was published. This was partly due to panic because the reported revenue was not as high as the estimated revenue from Wall Street. Investors are also worried that Alphabet is facing increased competition in the stock market from companies like Facebook and Amazon. These companies pose a threat to the core of Alphabet’s business which is advertising.
With over 100,000 employees, Alphabet now has about three times as many employees as Facebook but not as much as Amazon. Amazon tops the charts with over 500,000 employees. Google used to be on the list of the best companies to work in the world. Last November, however, it’s global employees staged a protest. They complained about the company being nonchalant about things like sexual harassment in the workplace.