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Google parent Alphabet laying off innovation lab workers

Google parent Alphabet is laying off an undisclosed number of workers at its innovation lab X, which is restructuring to spin out projects even faster.

In recent months, X – described as a diverse group of inventors and entrepreneurs that develops technologies to solve the world's hardest problems – has increased talks regarding funding with venture capitalists and other investors, so they can launch projects even faster, people familiar with the matter told Bloomberg. X was established in 2010 by Google co-founders Larry Page and Sergey Brin with the goal of working on "far-out, sci-fi sounding technologies that could one day make the world a radically better place." The lab's new structure will help projects spin out to become independent businesses even more quickly with support from Alphabet as well as outside backers, Bloomberg reported, citing one of the people and an email to staff obtained by the outlet.

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