Google parent Alphabet (GOOGL.O) is cutting about 12,000 jobs as it faces “different economic realities,” according to an employee memo.
Job cuts affect 6% of the workforce, with tech giants such as http://Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Meta Platforms Inc (META.O) Thousands of job cuts have been made.
It has dwindled in size after a pandemic-related hiring frenzy left it limping in a sluggish economy. His 4,444 shares in Mountain View, Calif.-based Alphabet, which has increased its workforce by nearly a third from 2020 to 2021, rose 4% on Friday.
A 30% decrease in the last 12 months. This reflects a 24% plunge in the broader tech industry (.IXIC).
Sundar Pichai, Alphabet’s chief executive since 2019, said in a memo on Friday that he takes “full responsibility” for the decisions that led to the layoffs.
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