Google parent Alphabet to cut 12,000 jobs, citing 'economic reality' in latest big tech layoffs

Google parent Alphabet Inc. is cutting 12,000 jobs worldwide in the latest round of layoffs to hit the technology sector.

CEO Sundar Pichai announced the cuts in a memo to Google employees that was later shared online in a company blog post.

"This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with," Pichai said. "I'm deeply sorry for that. The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here."

The cuts represent more than 6% of the company's workforce, according to Reuters. It was not immediately clear which teams would be affected, but they are expected to affect workers in the United States and globally, according to Pichai's note.

The cuts come amid sweeping layoffs in the technology industry, with Microsoft just days ago announcing plans to lay off 10,000 workers.

In his memo, Pichai cited a changing "economic reality" as he announced the layoffs, writing: "Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today."

While he said the company was "bound to go through difficult economic cycles," he said he felt "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."

Pichai said workers in the U.S. would be paid during the full notification period, a minimum of 60 days.

Workers would also be offered severance packages starting at 16 weeks salary, plus two weeks for every additional year at Google, with 2022 bonuses and remaining vacation time also expected to be paid, he said. He added that workers would also be offered six months of health care, job placement services and immigration support if needed.

"Outside the U.S., we’ll support employees in line with local practices," he said.

Pichai said a town hall for workers was being organized for Monday. "Until then, please take good care of yourselves as you absorb this difficult news," he wrote