'Richcession' hits Google parent company Alphabet as 12,000 workers are axed globally - joining Microsoft and Amazon on the techhie scrapheap
https://www.dailymail.co.uk/news/article-11657655/Google-parent-company-Alphabet-lay-12-000-workers-workforce-richcession-continues.html
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Mass layoffs will hit Google's recruiting teams and corporate functions
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Redundancies will affect offices worldwide and will start immediately in the US
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Comes amid mass white collar job cuts after Amazon and Microsoft layoffs
Google's parent company Alphabet is axing 12,000 jobs in the latest savage round of white collar layoffs sweeping across the tech sector.
Sundar Pichai, Alphabet's CEO, said the losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams.
The mass redundancy comes just days after rival Microsoft Corp said it would lay off 10,000 workers, and Amazon started to fire its 18,000 workers as the 'richsession' rips through the world's biggest firms.
The news comes during a period of economic uncertainty as well as technological promise, in which Google and Microsoft have been investing in a fledgling area of software known as generative artificial intelligence.
Pichai said in the note, 'I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI.'
The layoffs, which are global and will take effect in the US immediately, are the latest in a series of cost cutting moves which have been mirrored across the tech industry.
The most in-demand workers right now are blue collar employees, while white-collar workers have seen major job losses in the last year.
The phenomenon has been dubbed 'richcession' by those in the field.
On Wednesday morning, thousands of Amazon workers woke up to a brutal email from their employer informing them their role had 'been eliminated' effective immediately.
Around 18,000 staff were let go in the latest round of job cuts first announced by CEO Andy Jassy in November.
(continues to cover other tech company layoffs)