In a letter to employees, Alphabet's CEO Sundar Pichai said that the company would be cutting about 12,000 jobs globally.
After Amazon, Microsoft, and Meta all announced massive layoffs earlier this year, Google joined the list of tech companies that have cut thousands of workers. In a statement, Google's CEO Sundar Pichai said that a thorough review had been conducted to ensure that the company's employees were working toward its goals.
“Over the past two years we’ve seen periods of dramatic growth,” Pichai said. “To match and fuel that growth, we hired for a different economic reality than the one we face today.”
In his letter, Pichai noted that employees would receive 60 days of warning, as well as 16 weeks of severance, and additional weeks for each year that they have worked for the company. The company would also provide them with six months of healthcare coverage.
In January, the Wall Street Journal reported that Google's parent company Alphabet had cut about 200 jobs from its biotech division. The cuts were part of the company's other initiatives, which it refers to as its "other bets." These expenses alone were estimated to have cost the company around $1.6 billion in 2022's third quarter.
In 2022, Alphabet's YouTube reported its first decline in revenue since it was first reported in 2020.
Some of the employees who were affected by the layoffs had been anticipating the company's actions, as it had taken various cost-cutting measures, such as the discontinuation of its Stadia gaming platform and the Pixelbook laptop series. Alphabet is scheduled to report its fourth-quarter earnings on February 2. According to CNN, the company's net income is expected to be 25% lower than last year.
Alphabet did not immediately respond to a Daily Caller News Foundation request for comment.
The preceding is a summary of an article that originally appeared on WND.