Alphabet has too many employees, needs to cut costs: Investor

Activist investor TCI Fund Management has called on Alphabet Inc to cut costs by lowering its headcount and reduce losses in its self-driving unit Waymo, saying the Google parent needs to adjust to an era of slower growth.

The fund, an investor in Alphabet since 2017 with a $6 billion stake, said the company had “too many employees and cost per employee is too high”.

TCI said Alphabet pays some of the highest salaries in Silicon Valley, noting that the company has increased headcount by 20% annually since 2017 and more than doubled it since then.