Hedge Fund TCI urges Alphabet to cut costs

Activist investor TCI Fund Management on Tuesday called on Alphabet to cut costs and take aggressive action, saying the Google parent has too many employees and should increase share buybacks.

“The company has too many employees and cost per employee is too high,” the hedge fund said in a letter to Alphabet Chief Executive Officer Sundar Pichai.

Alphabet, whose shares rose 4%, did not immediately respond to a Reuters request for comment.