is it that bad. reads to me that alphabet annouced a bunch of layoffs but did not do that many and hired some after that. Its honestly one of the better ones I have seen. googles name change it alphabet makes it wierd though.
It's pretty bad because you need to write for multilingual readers, who may not understand the colloquialism "were just that" & can have a difficult time parsing what the pronoun "that" refers to in such a nonstandard and nonlinear sentence.
If this sentence were part of a novel that already has elaborate prose, it would be fine, but in something designed to inform people on the internet you have to keep in mind how varied your audience is.