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Alphabet to cut 12,000 jobs in largest ever round of layoffs

Stock Markets Jan 20, 2023 06:21AM ET
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© Reuters. Alphabet (GOOGL) to cut 12,000 jobs in largest ever round of layoffs
 
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By Investing.com Staff 

Alphabet (NASDAQ:GOOGL), the parent of Google, announced that it would cut about 12,000 jobs or about 6% of its staff. This would be the largest ever layoffs from the company amid the economic slowdown.

The cuts will take place globally across the entire company.

CEO Sundar Pichai said he takes "full responsibility for the decisions that led us here" and noted the past two years of dramatic growth.

"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 commented.

With the layoffs, Alphabet joins other tech companies including Salesforce (NYSE:CRM), Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), and Twitter which also recently made cuts.

"These are important moments to sharpen our focus, reengineer our cost base, and direct our talent and capital to our highest priorities," Pichai added.

The CEO said they see substantial opportunity in front of them with artificial intelligence.

Alphabet to cut 12,000 jobs in largest ever round of layoffs
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Comments (7)
Dennis Chuck
Dennis Chuck Jan 21, 2023 2:11AM ET
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Just watch, most lay-offed are other races thsn indians.
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Piet Delaney
Piet Delaney Jan 21, 2023 2:11AM ET
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why is there a race bias?
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Dennis Chuck
Dennis Chuck Jan 21, 2023 2:11AM ET
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Everything is! My god, are you living in your own wonderland?
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Tre Hsi
Tre Hsi Jan 20, 2023 11:15AM ET
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"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,"  -- so basically even after cutting 12k jobs (which is about 6% of their total workforce) their headcount in 2023 will still be significantly higher than 2020
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Jan 20, 2023 9:04AM ET
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Housing bubble is rapidly bursting
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PlanetApe Ape
PlanetApe Ape Jan 20, 2023 8:16AM ET
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Pichai should fire himself first for over-hiring in the first place!
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Jurgen Daub
Jurgen Daub Jan 20, 2023 8:16AM ET
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he now probably will get a pay raise for firing all the people. they call this cost reduction or optimizing
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XYXX
XYXX Jan 20, 2023 8:16AM ET
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ohh, so you probably didn't thought firing him while he hired those 12k.
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hd tv
hd tv Jan 20, 2023 7:53AM ET
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no doubt the nfp will show 500k jobs, will all the lay off announcements
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Luke Knoep
Luke Knoep Jan 20, 2023 7:53AM ET
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Smaller companies are still hiring at record rates
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Ernie Keebler
Ernie Keebler Jan 20, 2023 6:36AM ET
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Well we still need lots of health care workers and teachers, and sanitation workers and even grocery boys and girls so some of these tech workers should be able to find jobs if they care to get their hands dirty on something other than a keyboard. I also need lots of help tending my livestock and farm fields if anyone's interested.
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Wayne Elliott
Wayne Elliott Jan 20, 2023 6:36AM ET
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true... but they would actually have to work and serve in those jobs!
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hd tv
hd tv Jan 20, 2023 6:36AM ET
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make sense cut high paying tech jobs and replace them with low paid grocery,sanitation j and farm hand jobs , signs of a stong economy.
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Ernie Keebler
Ernie Keebler Jan 20, 2023 6:36AM ET
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I used to build computers and still do some programming and tech repair.  Tech is over rated and over paid. The answer is to pay more to the people that keep society running.  If you can't eat, sleep in a warm clean environment and not live in a disease ridden sewer playing video games on your phone won't help you much
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Matt Kay
Matt Kay Jan 20, 2023 6:36AM ET
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found the boomer, you guys
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Gábor Kardos
Gábor Kardos Jan 20, 2023 6:28AM ET
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news about alphabet with a picture of msft, check AI set up
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Ronald Warren
Ronald Warren Jan 20, 2023 6:28AM ET
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?? Alphabet owns Google. Right?
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Luke Knoep
Luke Knoep Jan 20, 2023 6:28AM ET
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Ronald Warren yeah
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