Alphabet, the parent company of Google, announced on Friday that it plans to cut 12,000 jobs, which is the company’s largest ever layoff, accounting for about 6% of its global workforce.
The company’s CEO, Sundar Pichai, said that Google expanded too quickly during the pandemic when demand for digital services surged, and now the company must refocus on products and technologies that are core to its future, such as artificial intelligence.
Pichai said in a note to employees that “we hired for a different economic reality than the one we face today,” and that the layoffs will occur across product areas, job responsibilities, and geographies.
Google is facing competition from rivals offering new ways to search the internet, such as OpenAI’s ChatGPT. Despite the layoffs, Alphabet and other tech giants remain highly profitable; in 2021, Alphabet had a profit of $76 billion and revenue of nearly $258 billion.
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