Google parent Alphabet Inc. is cutting 12,000 jobs worldwide.
CEO Sundar Pichai initially announced the job cut to Google employees and later shared it online through a company blog post.
“This will mean saying goodbye to some incredibly talented people who we worked hard to hire and have loved working with,” said Pichai. In the same memo, Pichai apologized to his employees and took full responsibility for how the company came to this point.
According to Reuters, this number makes up 6% of the company’s workforce.
Google’s announcement comes just 48 hours after Microsoft announced its plans to cut off 10,000 jobs. These announcements from these tech giants mark the latest round of layoffs to hit the technology sector. Amazon, Meta, Salesforce, and Twitter have also announced their layoffs during the past few months. The Wall Street Journal reported that at least 195,000 jobs have been cut from these layoffs.
Pichai mentioned “economic reality” as a primary reason for layoffs in his memo.
“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today,” his memo read.
Google employees in the United States will still be paid during the full notification period of 60 days. Employees will still get their severance packages, 2022 bonuses, as well as payment for their remaining vacation days. Pichai also said that employees will be offered six months of job placement services, healthcare, and immigration support if needed.