Google will spend $700 million on severance this quarter

• Google expects to incur $700 million in severance costs this quarter.
• The costs were revealed in Alphabet's Q4 earnings report, released Tuesday. 
• Severance and related costs were $2.1 billion for 2023, following mass layoffs that year. 

Google spent billions on employee severance following the company's mass layoffs last year, its latest earnings report showed.

Alphabet's earnings for the fourth quarter and fiscal year of 2023, released Tuesday, showed that the company also expects to incur $700 million in severance costs for this quarter.