TW Newsdesk, Nov 23: Amidst layoffs and a slowing down of the hiring process being witnessed by large companies as an avenue to strengthen their revenues, global tech giant Google has introduced a new performance management system, which holds chances to lay-off thousands of underperforming employees, according to reports.

The tech publication also stated that Google’s managers could also use the performance ratings to avoid paying employees bonuses and stocks. In the previous performance review system, managers were expected to put 2 percent of employees in that bucket, the reports stated.