Big Tech battling a major economic downturn after years of heavy investing and hiring
People visit the Google booth at CES 2023, the world’s largest consumer electronics show, at the Las Vegas Convention Center on Jan 6. (Photo: Reuters)
Google’s parent company Alphabet said on Friday it would cut 12,000 jobs globally, citing a changing “economic reality”, becoming the latest US tech giant to enact large-scale restructuring.
The layoffs come a day after Microsoft said it would reduce staff numbers by 10,000 in the coming months, following similar cuts by Facebook owner Meta, Amazon and Twitter as the previously unassailable tech sector battles a major economic downturn.
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