A recent report states that X Lab, the moonshot unit developing new technologies for Alphabet, Google’s parent company, has announced internal restructuring. This move aims to enable various projects to easily bifurcate and receive funding from external investors.
However, accompanying this restructuring is the downsizing of several tens of employees to align with this new organizational model. Representatives from X Lab state that the company has found ways to adapt its operations, allowing for the dissemination of various projects to the world and its people. This downsizing is consistent with the previous announcement by Google’s CEO regarding further employee reductions this year.
X Lab is part of Alphabet’s Other Bets business group, known for projects such as Taara, which creates long-distance internet networks, Waymo, the self-driving car project, and Wing, the drone delivery service. In the third quarter of 2023, X Lab reported a reduced loss of $1.194 billion.
TLDR: Alphabet’s moonshot unit, X Lab, has undergone internal restructuring to facilitate easier fundraising for its projects. The restructuring comes with a downsizing of several employees, aligning with the company’s new organizational model. X Lab is part of Alphabet’s Other Bets business group and is known for projects like Taara, Waymo, and Wing. This restructuring follows Google CEO’s announcement of further employee reductions this year. In Q3 2023, X Lab reported a reduced loss of $1.194 billion. (Words: 182)
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