Google’s parent company Alphabet Has announced it will cut 12,000 jobs. The announcement is an unsurprising move by the US tech giant as more and more tech companies are reducing their workforce. The eliminated jobs equals around 6% of Alphabet’s global workforce.
Changing “Economic Reality”
Alphabet hired 187,000 global employees in September of 2022 amid huge growth during the covid pandemic. But the looming fears of recession caused by rising interest rates have slowed down the growth. we hired for a different economic reality than the one we face today,” chief executive officer of Alphabet, Sundar Pichai wrote in an email.
Huge Tech Layoffs Continue
Previously Microsoft said that it would lay off 10,000 workers. In addition, Salesforce revealed that it will be laying off 10% of its workforce, while Facebook parent company Meta indicated that it would be slashing 11,000 jobs.