Profits up at Google UK, but nearly 400 jobs cut

Google UK reported increased revenues and profits in 2024, but simultaneously reduced its workforce by nearly 400 employees, according to recently released filings. The financial results reveal a revenue increase to £2.89 billion, up from £2.81 billion the previous year, and pre-tax profits rose to £550 million from £502 million. This mixed picture of growth and restructuring highlights the evolving landscape of the tech giant's operations within the UK market. The reduction in headcount, dropping from 7,422 to 7,029, is attributed to a combination of job cuts, natural attrition, and changes in job roles. This was despite increased demand for Google's services. Furthermore, Google's parent company, Alphabet, has committed to a £5 billion investment in UK artificial intelligence initiatives over the next two years, with the funds going to infrastructure and research. This investment aims to bolster the UK's AI economy, create new job opportunities, and strengthen cybersecurity. Google, a major player in AI through its Gemini bot and DeepMind, projects that its investment will generate 8,250 jobs annually for UK businesses. The company recently opened a £735 million data center in Hertfordshire, demonstrating its ongoing commitment to expanding its infrastructure within the UK.