Christopher Anthony Hohn-led TCI Fund Management Ltd. has penned an open letter to Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) CEO Sundar Pichai to undertake layoffs and curb costs. The activist investor claims that “The company has too many employees and the cost per employee is too high.” TCI has been a long-term investor in Alphabet since 2017, and its current stake amounts to over $6 billion. Hohn recommends that Alphabet set ambitious EBIT (earnings before interest and tax) margin targets, minimize losses at other ventures, including self-driving unit Waymo, and increase share buybacks with the idle cash sitting on its balance sheet.
https://www.tipranks.com/news/activist-investor-is-pushing-alphabet-to-lay-off-employees-and-curb-costs?utm_source=advfn.com&utm_medium=referral