google alphabet laying off thousands of workers

Google announced today that they are eliminating 12000 jobs or about 6% of their workforce.

Like most tech companies, Google over-hired in the years following the initial Covid pandemic. Thankfully Google is offering generous severance of up to 4 months for most people getting layed-off.

CEO Sundar Pichai made the announcement today.

“Over the past two years we’ve seen periods of dramatic growth,” Pichai said in the email. “To match and fuel that growth, we hired for a different economic reality than the one we face today.”

Google appears to be focusing on their core business offerings as well as AI, like most other big tech companies. The growth of the next earnings call is expected to only be around 1.7% which clearly indicates that Google is having some issues.