Alphabet, the parent company of Google, has indicated it plans of cutting 12,000 jobs to reduce its workforce after a hiring spree during the pandemic and amid concerns about a broader economic slowdown.
The job cuts are the company’s largest ever, amounting to about 6 per cent of the company’s global workforce.
Sundar Pichai, Alphabet’s chief executive, said the company expanded too rapidly during the pandemic when demand for digital services boomed, and now must refocus on products and technology core to the company’s future, like artificial intelligence.
“We hired for a different economic reality than the one we face today,” Mr Pichai said in a note to employees posted on the company’s website.
Google joins a list of other technology companies that have laid off workers after concluding they had overextended under the belief that the pandemic-fueled boom represented a new normal.
Amazon, Meta, Microsoft and Twitter are among others who have announced thousands of job cuts.
More than 190,000 jobs have been cut by technology firms since the start of 2022, according to Layoffs.fyi, a website that tracks job cuts in the industry.
The moves mark the end of a period in which the technology industry experienced uninterrupted growth, expanded rapidly and battled for employees with lavish perks and high pay.
Google, started in 1998, helped define a Silicon Valley work culture that influenced corporations far beyond the technology sector.
Alphabet had nearly 187,000 employees as of the end of September 2022, compared with about 150,000 a year earlier.
The company said the job cuts would cut across product areas, job responsibilities and geographies.
It comes at a time when Google is facing new competition from rivals offering new ways to search for information on the internet.
ChatGPT, created by a company called OpenAI, has dazzled users by providing clearly written answers to questions and queries.
Latest Stories
-
I’m confident posterity will judge my performance well – Akufo-Addo
27 seconds -
Syria’s minorities seek security as country charts new future
41 minutes -
Prof. Nana Aba Appiah Amfo re-appointed as Vice-Chancellor of the University of Ghana
48 minutes -
German police probe market attack security and warnings
48 minutes -
Grief and anger in Magdeburg after Christmas market attack
49 minutes -
Baltasar Coin becomes first Ghanaian meme coin to hit DEX Screener at $100K market cap
2 hours -
EC blames re-collation of disputed results on widespread lawlessness by party supporters
2 hours -
Top 20 Ghanaian songs released in 2024
2 hours -
Beating Messi’s Inter Miami to MLS Cup feels amazing – Joseph Paintsil
2 hours -
NDC administration will reverse all ‘last-minute’ gov’t employee promotions – Asiedu Nketiah
3 hours -
Kudus sights ‘authority and kingship’ for elephant stool celebration
3 hours -
We’ll embrace cutting-edge technologies to address emerging healthcare needs – Prof. Antwi-Kusi
3 hours -
Nana Aba Anamoah, Cwesi Oteng special guests for Philip Nai and Friends’ charity event
3 hours -
Environmental protection officers receive training on how to tackle climate change
3 hours -
CLOGSAG vows to resist partisan appointments in Civil, Local Government Service
5 hours