Google Owner Alphabet Has Too Many Employees, TCI Says

Google parent Alphabet Inc. needs to take “aggressive action” to reduce expenses and scale back an overgrown headcount, investor TCI Fund Management Ltd. said in a letter to the internet-search giant, urging the company to make hard choices as job cuts roil the tech industry.

Management should publicly set a target for profit margins, increase share buybacks and reduce losses in its portfolio of Other Bets -- the company’s long-shot projects -- TCI Managing Director Chris Hohn wrote Tuesday in an open letter to Alphabet Chief Executive Officer Sundar Pichai.