Google's Parent Company Lays Off About 12000 Employees

CALIFORNIA: Alphabet, the parent company of Google has decided to remove 6% of its positions even though its shares have seen growth in recent times. 6 per cent translates to about 12000 individual jobs with the brand which now joins the rest of the big players of Silicon Valley in the trend of layoffs.

Founded in 2015, this tech company has grown over the years by hiring some of the most brilliant minds in the world towards the creation of Google, Youtube and several other well-established brands in the market towards a variety of goals.

Even after seeing a rise of 3% in shares during the pre-market trading, the leader of the tech sector has decided to let go of 6% of its entire workforce And thus making it the latest company to join the trend of lay off in the tech sector which has been followed by all the major players of the sector.

This decision comes a few days after Microsoft announced its downsizing by 10000 employees worldwide. Currently, Google and Microsoft are in competition in a niche new sector called generative artificial intelligence.

Sundar Pichai, the Indian-origin CEO of Alphabet, issued a memo mentioning that the company has done a review of all its products, people and priorities and decided to downsize the workforce across countries and different technologies. It also mentioned that the brand rapidly expanded during its good time but is now faced with a "different economic reality."

This decision is expected to affect its employees globally starting with those in the United States. Different verticals of the company including recruiting, corporate functioning, engineering and products will be adversely affected. "The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here," mentioned the CEO Sundar Pichai while saying that the emails have already been sent to those affected by the decision.

Also Read: Over 18,000 Employees To Be Fired By Amazon Due To 'Uncertain Economy'

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