Google’s Parent company Alphabet has announced its cutting of 12000 jobs worldwide. The company becomes the latest large YS Tech firm to reduce its workforce as inflation rises. Global markets are also bracing for a downturn.
The cuts comes days after Miceosoft said it will cut 10,000 jobs(5 per cent of its workforce. Amazon had also announced 18,000 redundancies, Meta 11,000 redundancies and Salesforce about 8,000 layoffs.
Alphabets Chief Executive Sundar Pichai said the redudancies are as a result of rigorous reviews of the business products and functions that will ensure peoples roles are assigned it Googles highest priorities.
He says, “this will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I’m deeply sorry for that. The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here. 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.”
He adds, the roles we are eliminating reflect the results of review which cuts across Alphbate product areas, functions, levels and regions.
The job layoffs constitute about 6 per cent of Google’s Global workforce and they impact the US layoffs immediately.
Alphabet had already alerted investors to a slowdown in its core business of search advertising. In the previous year, it reported search revenues of $39.5bn for Q3 2022, a growth rate of 4 per cent which was below market expectations.