Google parent company Alphabet is set to cut six per cent of its global workforce, laying off a total of 12,000 workers, the New York Times reports.
Alphabet is the latest tech corporation to lay off staff following a global recruiting spree in the face of an imminent economic slump.
According to the company’s CEO, the employees were employed for a different economic reality than the organisation currently faces.
It joins a long list of technological companies that have laid off employees after realising that they had overextended themselves in the mistaken notion that the pandemic-fueled boom marked a new normal.
Amazon, Meta, Microsoft, and Twitter are just a few of the companies that have announced thousands of job cutbacks.
Per Layoffs.fyi, a website that analyses job cutbacks in the tech industry, more than 190,000 employees have been terminated by technology enterprises since the beginning of 2022.
The changes signal the end of an era in which the technology industry saw unbroken development, grew swiftly, and competed for people with opulent perks and high compensation.
Google, founded in 1998, contributed to the development of a Silicon Valley work culture that influenced firms far outside the technology industry.
