Alphabet is under pressure from one of its major investors to cut staff and costs

Alphabet, the parent company of Google, received a call on Tuesday from a major shareholder to reduce its high number of employees and cut high salaries paid to non-engineers, in the latest sign of mounting pressure on America’s largest technology company.

Hedge fund TCI, which owns about $6 billion in shares of Alphabet, has called for drastic measures, including a significant cut in Google’s long-term investments in auto self-driving vehicles and a sharp increase in share buybacks.

Alphabet added more than 36,000 employees in the past 12 months, increasing headcount by about a quarter, despite a sharp slowdown in advertising revenue during the period.

Read More About: Business News