Welcome back. Today we're looking at complaints from Google Cloud employees who say frustration with senior management is driving VPs to quit, and we're exploring why Airbnb is pulling all of its listings from mainland China.
Sitting comfortably? Then let's begin.
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1. Google Cloud employees say frustration with senior management is driving VPs to quit. Google's multibillion-dollar cloud-computing arm has undergone a major overhaul over the last three years, leading to impressive progress and revenue growth. However, this has come at the cost of alienating a number of employees within the division.
- Almost 30 company VPs have left Google Cloud since CEO Thomas Kurian took the reins in 2018, but this year is set to be the worst yet, with six VPs already handing in their resignations.
- Workers told Insider they are uncomfortable with Google Cloud's recent moves, which include revamping employees' comp plans and laying off dozens of support staff.
- The unit's approach of poaching talent from the likes of Oracle, Microsoft, and Salesforce has also created cultural tensions — making it difficult to retain senior leaders.
Read everything employees said about Google Cloud's exodus of VPs.
In other news:
2. Amazon doubled its warehouse footprint during the pandemic, but now it has "too much space." In order to meet soaring demand, Amazon added more than 200 million square feet of warehouse space between 2020 and 2022. But now, the ecommerce giant has a lot of space and nothing to fill it with. Reports say Amazon is even considering subletting the space — here's what we know.
3. Robinhood is betting big on crypto, but obstacles stand in the way of success. After laying off roughly 10% of the company's employees, CEO Vlad Tenev believes crypto will help drive growth. But a broader identity crisis, regulatory barriers, and a plummeting crypto market could thwart Tenev's ambitions. Here are some of the things standing in Robinhood's way.
4. Fears anti-abortion vigilantes could buy the location data of people seeking abortions. Democrats wrote to the FTC to say they're worried about data brokers selling location data from people who visit abortion clinics if Roe v. Wade is overturned. The letter said: "We are concerned about the privacy of women making decisions that should be between them, their families, and their doctors."
5. Snap is slowing the pace of hiring. After bringing on hundreds of employees recently, Snap is the latest tech firm to slow down hiring. Insider has obtained a memo from Snap's CEO that reveals revenue growth has slowed in the wake of a tumultuous year. Here's the latest.
6. Airbnb is pulling all listings in mainland China. As per CNBC, the move comes amid prolonged lockdowns due to the country's harsh Covid-zero policy. Since Airbnb set up in China, nearly 25 million guests have booked stays in the country. Now, all its listings are due to be removed this summer.
7. Uber is freezing most hiring, but no layoffs are planned. CEO Dara Khosrowshahi told senior leaders that he has no plans to lay off employees, despite a sweeping hiring freeze across the company. However, it remains to be seen whether Khosrowshahi can hold himself to the pledge. Here's what's happening at Uber.
8. Coinbase is reportedly testing out having employees rate each other in an app. According to The Information, Coinbase staff are being asked to evaluate one another — with a thumbs up, thumbs down, or neutral review — after interactions based on how well they model 10 core values. Here's everything we know about the move.
Odds and ends:
9. London's fintechs are trying to lure talent back to the office with in-house pubs. Would you be tempted back to the office by a pint at your company's private bar? Or a big budget to travel to other offices around the world? Here's how workplaces are getting creative to encourage employees back to the office.
10. Instagram creates custom fonts called "Instagram Sans" — and some of them are wild. As per The Verge, The fonts are part of a wider brand refresh to be used across the platform. Some are straightforward, others are truly wacky and bizarre. Here is a look at all the weird and wonderful fonts.
What we're watching today:
- Intuit Inc., Best Buy Co., inc., and others are reporting earnings. Keep up with earnings here.
- World Economic Forum Annual Meeting continues in Davos.
- The Intelligent Automation Executive Select online event begins today.
Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.
Curated by Hallam Bullock in London (Feedback or tips? Email [email protected] or tweet @hallam_bullock.)