1/20, 11:29 AM (Source: TeleTrader)
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Alphabet said to cut about 12,000 jobs worldwide

Google parent Alphabet Inc. plans to lay off around 6% of its global workforce or 12,000 employees, mainly in the recruiting, engineering, and products sectors, as well as some corporate positions.

Reports from multiple media, including the Wall Street Journal, published on Friday cited an email sent by Chief Executive Officer Sundar Pichai, in which he told employees that he is taking "full responsibility for the decisions that led" the company to this point. The job cuts will start immediately, per the note. Alphabet's stock jumped 3.7% in premarket trading following the news.

The tech giant joined other Big Tech in the United States by announcing major layoffs after years of continuous expansion in hiring, including Amazon, Meta, Salesforce, Twitter, and many others. Microsoft also confirmed cutting 10,000 jobs by March earlier this week.

Baha Breaking News (BBN) / ND