According to a report, Alphabet’s stock was on the rise on Wednesday. The report states that Google, a unit of Alphabet, is planning to reorganize a significant part of its advertising sales unit.
At a recent department meeting, Sean Downey, President of Americas and Global Partners at Google, announced the company’s plans to restructure its ad-sales teams. However, it remains uncertain whether this reorganization will result in job cuts. It’s worth mentioning that Google had laid off 12,000 workers in January.
Google has not provided an immediate response to a request for comment from the source.
If the restructuring takes place, it would occur in a period where machine-learning techniques are playing a substantial role in helping the company sell ads on Google and Youtube, both owned by Alphabet.
Alphabet’s shares experienced a 3.2% increase on Wednesday, reaching $141.07. This positive trajectory puts them on track to achieve their highest close since April 2022, based on the data from Dow Jones Market Data. Notably, the stock has risen by 60% this year.