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AgenciesYouTube YouTube, Google's video streaming service, has announced "voluntary exit program" for its employees. There will be severance package for employees based in the U.S. This comes even as Google parent Alphabet reported its first-ever $100 billion quarterly revenue on Wednesday. The voluntary exit programme is beginning from Thursday, October 30.In an internal memo, YouTube CEO Neal Mohan has informed the company's employees about the voluntary employee buyout program.YouTube CEO Neal Mohan has stated that there will be reorganization with an effect from November 5. However, no lay offs have been planned, as per reports.As part of the rejig plan, there will be three separate departments with YouTube product teams -- "Subscription Products", "Viewer Products", and "Creator & Community Products".YouTube's "voluntary exit program" comes days after Amazon had announced job cuts at the corporate level.Live EventsGoogle parent Alphabet's revenues jumped 16 per cent year-on-year to $102.3 billion in the third quarter, beating analyst expectations and marking a milestone for the company founded by Larry Page and Sergey Brin in 1998.Net income surged 33 per cent to $35 billion, with the company pointing to its ability to capitalize on the artificial intelligence boom that is reshaping the tech landscape.Google's core search and advertising business remained the primary revenue driver, generating $56.6 billion, up from $49.4 billion a year earlier.YouTube advertising revenues also grew strongly to $10.3 billion from $8.9 billion.But it was Google Cloud that stole the spotlight, with revenues soaring 34 percent to $15.2 billion. The cloud division, which competes with Amazon Web Services and Microsoft Azure, has become a key growth engine for Alphabet.FAQsQ1. How has Google parent Alphabet performed?A1. Google parent Alphabet reported its first-ever $100 billion quarterly revenue on Wednesday.Q2. Has YouTube announced any job cut?A2. YouTube has announced the voluntary exit programme.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onYouTube lay offs job cuts GoogleYouTube lay offsYouTube job cutsYouTubeYouTube memo (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onYouTube lay offs job cuts GoogleYouTube lay offsYouTube job cutsYouTubeYouTube memo(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123
