Alphabet Inc., the parent company of Google, said that it will slash 12,000 employees, or more than 6% of its global staff. This makes it the latest tech behemoth to announce employment cuts.
Sundar Pichai, said in a letter to staff on Friday that he accepts "full responsibility for the actions that led us here" and that the layoffs will affect positions across the board.
Teams from across the organisation, including those responsible for hiring, some corporate functions, some engineering teams, and some product teams, are impacted by the job losses.
With the layoffs, Google joins a slew of other digital behemoths that have substantially reduced operations in the face of a failing global economy and surging prices.
Google has avoided significant employee reductions for the longest time in the IT industry because to a stable search business.
However, the business is experiencing a decline in digital advertising, and its cloud computing unit is still lagging behind Amazon and Microsoft Corp.
The following generation of Google's Pixelbook laptop was cancelled, and the company also permanently shut down Stadia, its cloud gaming service, as part of a series of cost-cutting measures.
The tech firm, according to Sundar Pichai, would "help employees as they explore for their next opportunity."