Google Parent Company Cuts 12,000 Jobs

Conservative News DailyJanuary 20, 2023

Google’s parent company, Alphabet, will axe 12,000 jobs as the tech sector faces a brutal round of layoffs amid a worsening economy.

Sundar Pichai (CEO of Alphabet) said that the losses impact all aspects of the company, including recruitment, corporate functions and engineering.

Amazon earlier announced massive layoffs this month.

As The Daily Fetched reported earlier this month, Amazon’s layoffs will impact more than 18,000 employees, the highest number for a major tech company.

Salesforce also announced that it would layoff 8,000 employees, which is 10 percent of its workforce according to Marc Benioff, Co-CEO.

Pichai wrote in the note: “I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI.”

Global layoffs in the US will be effective immediately as part of a cost-cutting initiative to keep companies afloat.

Amazon employees woke up on Wednesday to find an email informing their roles. ‘been eliminated’ It is effective immediately

“Unfortunately, your role has been eliminated,” The email was sent by an HR executive at the e-commerce giant. “You are no longer required to perform any work on Amazon’s behalf effective immediately,” Later, it was added as per The Business Insider.

The Daily Fetched reported Facebook announced a series large-scale layoffs in November 2013 that would affect thousands of employees. This was in response to a dramatic drop in its share price.

Facebook parent company Meta Platforms Inc forecasted a weak holiday quarter and major additional costs for 2023, wiping about $67 billion off Meta’s stock market value.

This year, more than half of a trillion dollars was lost due to a significant decline in market value.

Meta is currently facing slowing global economic growth and privacy changes from Apple. There is also fierce competition from TikTok in China.