Alphabet, Google’s parent company, plans to cut 12,000 jobs equating to over 6% of its global workforce.
Chief Executive Sundar Pichai sent an email to employees on Friday, saying he takes “full responsibility for the decisions that led us here,” in a blog on the company’s website on Friday.
“These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities,” Pichai added.
Alphabet
GOOG,
GOOGL,
could be the latest tech firm to scale back its workforce, after Amazon
AMZN,
Meta Platforms
META,
Twitter and Microsoft
MSFT,
slashed their head counts recently.
In the email, Pichai said U.S. employees will be paid during the full notification period (a two-month minimum), receive a severance package starting at 4 months’ salary, bonuses and remaining vacation time. It will also offer six months of healthcare, job placement services and immigration support.
Staffers elsewhere will be supported “in line with local practices.”
Employees have been invited to a town hall meeting on Monday to ask questions to management.
Alphabet stock was up over 2% in premarket Friday trading.
This post was originally published on Market Watch
