Google to cut 12,000 jobs in 6% slash to global workforce
BNN Bloomberg
Google parent Alphabet Inc. said it will cut about 12,000 jobs, more than six per cent of its global workforce, becoming the latest tech giant to retrench after years of abundant growth and hiring.
The cuts will affect jobs globally and across the entire company, Chief Executive Officer Sundar Pichai told employees in an email on Friday, writing that he takes “full responsibility for the decisions that led us here.”
Shares of Alphabet gained as much as 1.8 per cent during premarket trading in New York on Friday after the announcement was made public. The stock has fallen about 30 per cent over the past year.
With the layoffs, Google joins a host of other tech giants that have drastically scaled back operations amid a faltering global economy and soaring inflation. Meta Platforms Inc., Twitter Inc. and Amazon.com Inc. have all slashed their ranks. Thanks to a resilient search business, Google has been one of the longest tech holdouts. But the company is dealing with a slowdown in digital advertising and its cloud-computing division continues to trail Amazon and Microsoft Corp.
