Alphabet Inc (GOOGL.O), the parent company of Google, has stated that it is laying off 12,000 employees, or 6% of its workforce.
Alphabet’s CEO, Sundar Pichai, made this announcement in a memo that was emailed to staff members on Friday, Jan. 20.
Pichai stated in the email that choices have to be made specifically “for a different economic reality than the one we confront today,” according to Reuters.
I accept full responsibility for the choices that brought us to this point, Pinchai added.
Thanks to the strength of our mission, the value of our goods and services, and our early investments in AI, I am optimistic about the enormous opportunity that lies ahead of us.
Numerous divisions of the business, including some engineering and product teams, will be impacted by the job reduction.
The message states that even though the layoffs are global, American employees will be impacted right away.
The procedure would take longer in other countries due to local employment rules and practices, it was said, however impacted employees have already been emailed.
This comes after Microsoft, a competitor of Alphabet, announced it will fire approximately 10,000 employees in response to “macroeconomic conditions and shifting customer demands.”