Google’s parent company, Alphabet, plans to cut 12,000 jobs.

Foreign news agencies reported on January 20, 2023 that ‘Alphabet’, the parent company of Google, announced plans to cut 12,000 jobs in order to solve the company’s overcrowding problem, following in the footsteps of ‘Microsoft’. with Amazon, which announced a few days earlier that it would cut 10,000 and 18,000 jobs respectively.

actionlayoffsSuch will affect the global workforce ofAlphabetAbout 6% across teams, including recruitment and engineering teams.

Sundar Pichai, CEO of both Alphabet andgoogle Sift an electronic letter to employees stating that he was entirely responsible for this layoff. He thanked the employees for their hard work in their roles, adding that the contributions they made were invaluable.

Mr. Pichai also revealed a severance pay package. for US employees which will receive at least 16 weeks of compensation, 2022 bonuses, vacation days without salary deductions and health insurance for 6 months

US stock market responded positively to the news of this staff reduction. Alphabet’s shares were up 3.5 percent in electronic trading before the open. Because analysts think that big tech companies have been overcharged in the past. And there is no sign of slowing down at all.

Daniel Ive of Wedbush Securities said the layoffs had taken place. Reflecting irresponsible spending in each sector for rapid growth “The reality is Big tech companies are over-employing to a degree that is unsustainable. and it is causinglay offacross the technology sector right now.”

According to information from the Layoffs.fyi website, since the beginning of 2022 inUnited StatesThe company alone has had nearly 194,000 tech industry employees laid off, not including Alphabet’s latest announcement.