Big tech companies continue cost cutting

It's Monday, readers. I'm Paayal Zaveri, and welcome to the first week of April.

We're now officially a quarter of the way through the year. That's a good reminder to make sure you plan some vacation time this year. Nearly half of all American workers don't take their PTO, according to the Pew Research Center.

Obviously, that's less than ideal. Just take a look at how much better work-life balance is for workers in the UK, Australia, and France, where workers get much more time off.

So moral of the story, take your PTO. And here's some quick tips on how to prepare for your vacation (or staycation), so it's actually restful.

It's also my last day on the newsletter. I'll be handing things over to my colleague Asia Martin tomorrow. But we've got plenty of tech news to talk about today, the theme of which seems to be cost-cutting.

Let's get started.

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1. Tech's new watchword: revenue per employee. As tech companies continue to focus on efficiency, it's clear that one metric is the most important: revenue per employee. After years of over-hiring, tech companies are now looking to squeeze the most efficient performance from each worker, my colleague Hasan Chowdhury reports.

• Meta has declared a "year of efficiency," and Amazon's CEO said the uncertain economy means it needs to be "streamlined in our costs and headcount." So it's no surprise Big Tech continues to conduct layoffs.
• These firms are in this predicament because while they hired a ton of new people over the last few years, their revenue didn't increase accordingly. In other words, they got bigger but not necessarily better.
• It's likely part of why some are accusing Big Tech firms of hiring employees to do "fake work" over the last few years.

These charts show why Amazon, Meta, Alphabet and others are cutting jobs at a rapid pace.

In other news:

2. Google's cost cutting hits office perks. Google is reducing the hours of some office cafes and consolidating some of its microkitchens. It's also looking to make its data centers and servers more efficient, and find efficient ways to train its AI models. Here's the full memo detailing the cost cutting.

3. Meta is pushing a return to the office. Meta has stopped offering remote work as an option in its new job postings. Meta says the move is temporary. But it's another sign that tech companies are drifting away from pro-remote work policies.

4. Apple's smart goggles could launch the entire extended reality market. Google, Meta, and Microsoft have all failed to make their AR and VR devices into mainstream successes. But Apple's smart goggles could be the answer the industry needs.

5. Tesla is behind on its solar roof goal. Tesla has installed around 3,000 solar roof systems since launching the program in 2016. That's well behind stated goals to install 1,000 per week. Dive into why Tesla's having trouble hitting its target.

6. Google's AI chatbot will improve soon. Google CEO Sundar Pichai said the company's Bard AI chatbot will be improved soon. He also shared his thoughts on people's concerns around AI. Read why he's still optimistic on AI.

7. The deadline for EV tax credit is approaching. If you want to buy an EV and take advantage of the tax credits, you only have until April 17. After that there are new rules for which cars qualify for tax credits and how much you can get. Get all the details.

8. AI enthusiasts gather in "Cerebral Valley." As AI startup founders flock there, San Francisco's Hayes Valley has been nicknamed "Cerebral Valley." Last week dozens of AI enthusiasts gathered there for a summit hosted by journalist Eric Newcomer. Here are the top takeaways.

Odds and ends:

9. Comparing the Google Pixel 7 vs. Pixel 7 Pro. Google's Pixel phones are a popular alternative to Apple's iPhone. If you can't decide between the Pixel 7 and the Pixel 7 Pro, here's Insider's side by side comparison.

10. Bill Gates is betting on self-driving cars. Bill Gates predicts that self-driving car technology will reach "a tipping point" within the next decade. Once that happens, they'll be as revolutionary as the personal computer, he says.

What we're watching today:

• ICYMI: Former President Donald Trump has been indicted. This week should bring more updates on the case and how it moves forward.
• The annual H-1B visa lottery closed last week. Those selected for the highly coveted high skilled work visa can submit applications as of April 1. We'll be watching to see how it all shakes out.

Curated by Paayal Zaveri in San Francisco. (Feedback or tips? Email pzaveri@insider.com or tweet @paayalzaveri) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.