Alphabet to cut 12,000 jobs worldwide
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After years of ample hiring, Google parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) announced it plans to eliminate roughly 12,000 jobs - its chief executive said in a staff memo, reported Reuters.
âThese are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities,â CEO Sundar Pichai wrote in the email.
This action marks the companyâs largest-ever round of layoffs, around 6% of staff cut.
The job cuts will impact teams across the company including recruiting and some corporate functions, as well as some engineering and products teams.
The tech giant has made a series of cost-cutting moves past few months: Cancelled the next generation of its Pixelbook laptop and permanently shuttered cloud gaming service Stadia.
Earlier in January, a biotech unit of Alphabet called Verily announced 15% of staff cut.
Looking at the stock action, GOOG has fallen around 31% past 12 months, but has rebounded 4.7% so far this year.
Meanwhile, stock is currently trading at $93.91, +1.54% in Friday's premarket session.
The downsizing follows a wave of layoffs in technology sector: Microsoft announced to lay off 10,000 employees; Adobe laid off about 100 employees; Meta announced 11,000 job cuts in November; Amazon to lay off over 18,000 employees; Salesforce to cut workforce by around 10%; Intel cuts hundreds at its offices in Santa Clara, California.
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