Google parent Alphabet to cut 12,000 jobs citing ‘economic reality’

Google Thai Alphabet Inc is cutting 12,000 jobs worldwide The latest round of layoffs The technology sector should be attacked.

CEO Sundar Pichai announced the cuts in a memo to Google employees that was later shared online at the company Blog.

“This will mean saying goodbye to some incredibly talented people that we’ve worked so hard to hire and love to hire,” Pichai said. “I deeply regret that. The fact that these changes will impact the lives of Googlers affects me greatly, and I take full responsibility for the decisions that led us here.”

According to Reuters, the cuts cover more than 6% of the company’s workforce. It was not immediately clear which teams would be affected, but they are expected to affect workers in the U.S. and globally, according to Beggar’s note.

The technology sector has seen massive job losses recently Amid a sluggish global economy. Google’s announcement came within 48 hours of Microsoft It announced plans to cut 10,000 jobsAnd coincides with the first round of previous layoffs Amazon announced that it would eventually affect a total of 18,000 workers.

Other tech companies announcing layoffs in recent months include Facebook parent company Meta, Salesforce, Twitter and Snap. In total, employers in the technology sector cut nearly 195,000 jobs last year. According to the Wall Street JournalIt quoted Website It is monitoring job cuts.

Work cuts Mark an abrupt end to a period of rapid hiring in the tech sector that coincided with an economic boom amid the pandemic. But that rapid growth drove up inflation, prompting the Federal Reserve to begin. Radically raising interest rates. The high rates combine with countless other factors worldwide, including the war in Ukraine and China’s Covid-19 lockdowns, to put a damper on the global economy.

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In his memo announcing the layoffs, Pichai cited changing “economic realities.”

“We’ve seen periods of dramatic growth in the last couple of years,” Heh said. “To match and fuel that growth, we were hired for a different economic reality than the economic reality we face today.”

While he said the company “has had to overcome difficult economic cycles,” he said he is “optimistic about the tremendous opportunity that lies ahead of us thanks to the strength of our work, the value of our products and services, and our early investments. In AI.”

Pichai said the workers in the US will be paid for the full notice period, i.e. at least 60 days.

He said workers will be offered severance packages starting at 16 weeks of pay, plus two weeks for each additional year, with 2022 bonuses and remaining vacation time at Google. He added that workers will be provided with six months of health care, job placement services and immigration support if needed.

“Outside the US, we will support employees in accordance with local procedures,” he said.

Pichai said a town hall for workers would be organized on Monday. “Until then, please take good care of yourself as you absorb this difficult news,” she wrote.

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