Alphabet, the parent company of Google, has indicated it plans of cutting 12,000 jobs to reduce its workforce after a hiring spree during the pandemic and amid concerns about a broader economic slowdown.
The job cuts are the company’s largest ever, amounting to about 6 per cent of the company’s global workforce.
Sundar Pichai, Alphabet’s chief executive, said the company expanded too rapidly during the pandemic when demand for digital services boomed, and now must refocus on products and technology core to the company’s future, like artificial intelligence.
“We hired for a different economic reality than the one we face today,” Mr Pichai said in a note to employees posted on the company’s website.
Google joins a list of other technology companies that have laid off workers after concluding they had overextended under the belief that the pandemic-fueled boom represented a new normal.
Amazon, Meta, Microsoft and Twitter are among others who have announced thousands of job cuts.
More than 190,000 jobs have been cut by technology firms since the start of 2022, according to Layoffs.fyi, a website that tracks job cuts in the industry.
The moves mark the end of a period in which the technology industry experienced uninterrupted growth, expanded rapidly and battled for employees with lavish perks and high pay.
Google, started in 1998, helped define a Silicon Valley work culture that influenced corporations far beyond the technology sector.
Alphabet had nearly 187,000 employees as of the end of September 2022, compared with about 150,000 a year earlier.
The company said the job cuts would cut across product areas, job responsibilities and geographies.
It comes at a time when Google is facing new competition from rivals offering new ways to search for information on the internet.
ChatGPT, created by a company called OpenAI, has dazzled users by providing clearly written answers to questions and queries.
Latest Stories
- Bolt donates to 2 institutions as part of CSR activities
2 mins - North Dayi health directorate holds 2022 annual performance review meeting
26 mins - Livestream: PM Express discusses EC’s neutrality
46 mins - FWSC working on linking salary to productivity – Benjamin Arthur
57 mins - ECG doesn’t have means to prove power theft – Lawyer
1 hour - Endeavour to build quality homes – GREDA to members
1 hour - Poverty is our enemy; peace and development are our objectives -VP Bawumia
1 hour - Alan pays for printing of albums for 200,000 delegates
2 hours - Joy Prime premieres new telenovela ‘The Rich Also Cry’ on April 3, 2023
2 hours - ‘Reckless’ Gwyneth Paltrow caused Utah ski crash, lawyer says
2 hours - Photos: Newly-elected Rugby Africa President Herbert Mensah returns home
2 hours - World Water Day: AngloGold Ashanti hands over water systems to 4 communities
2 hours - Herbert Mensah receives rousing welcome after Rugby Africa Election win
2 hours - Proposed tax measures not new; will boost fiscal economy – Finance Ministry
2 hours - My vision is to become a servant for Keta and help with development – Dr Kojo Mensah
2 hours