Google parent company Alphabet to cut 12,000 jobs from global workforce

Google parent Alphabet Inc. is cutting 12,000 jobs worldwide, roughly 6% of its global workforce.

The cuts, announced by CEO Sundar Pichai in a memo to Google employees, is the latest in Big Tech job cutbacks.

"This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with," said Pichai, according to NBC News. "I'm deeply sorry for that. 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."

The memo was later shared online in a company blog post.

In his memo, Pichai cited a changing "economic reality" as he announced the layoffs, writing: "Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today," NBC also reports.

In recent days and weeks, Microsoft, Twitter and Meta, the parent company for Facebook and Instagram, also have announced layoffs.

Microsoft Corp earlier this week announcing plans to lay off 10,000 workers, ahead of what many economists see as a recession next year.