Google is cutting 12,000 jobs, making it the latest tech giant to do so.
The news was announced Friday in an email from Alphabet CEO Sundar Pichai to the company’s employees, which was also posted on the company’s news blog.
“Over the past two years, we’ve seen periods of dramatic growth,” Pichai wrote. “To match and fuel that growth, we hired for a different economic reality than the one we face today.”
Google’s operations underwent a “rigorous review” that is reflected in the layoffs. Pichai stated that the affected positions “cut across Alphabet, product areas, functions, levels, and regions.”
Employees who are laid off will be given a severance package that includes six months of health insurance, job placement assistance, and immigration support, starting at 16 weeks of salary plus two weeks for each subsequent year of employment at Google.
Pichai said, “As an almost 25-year-old company, we’re bound to go through difficult economic cycles. These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities.”
Within the last month, Microsoft announced 10,000 job cuts, Amazon said it would cut 18,000 jobs, and Facebook parent Meta announced it is eliminating 11,000 positions. Software maker Salesforce said it would shed 7,000 workers.
In recent months, Netflix, Peloton, Twitter, and other industry leaders have reported substantial layoffs or reduced hiring.
“All the tech giants have now entered the layoff game,” Wall Street analyst Adam Crisafulli of Vital Knowledge said in a report.