The job cuts affect 6% of its workforce, and follows thousands of layoffs at tech giants including Amazon, Microsoft, and Meta Platforms.
who are downsizing after a pandemic-led hiring spree left them flabby in a weak economy.
Pichai, whose pay was recently tied more closely to performance, said this was a moment to “sharpen our focus, reengineer our cost base and direct our talent and capital to our highest priorities,” as Alphabet looked to get imbue its products with more AI, echoing comments from Microsoft that announced job cuts on Wednesday.
Evercore ISIS analyst Mark Mahaney said Alphabet’s record-high headcount had created major margin risk going into fiscal 2023 and Bernstein analyst Mark Shmulik said the job cuts could save the company Alphabet $2.5 billion to $3 billion in costs.With Alphabet’s staff cuts, layoffs at four of the biggest US tech companies total 51,000 jobs in the past few months. They have fanned fears of a recession even as the US job market remains tight.
Among those losing their jobs are recruiters, corporate staff and people working on engineering and product teams, Pichai said. Google has cut most jobs at Area 120, its in-house incubator for new projects, a company spokesperson told Reuters.
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