Google ! parent Alphabet is cutting 12,000 jobs.

 

Google parent Alphabet is laying off nearly 12,000 jobs, or 6% of its workforce, the company said On Friday, in the latest cuts to shake up the technology sector.

Ceo Sundar Pichai said in an email to employees posted on the company's website on Friday, the cuts would affect roles across product regions and regions.

Affected U.S. employees will remain on the company's payroll for 60 days and receive at least 16 weeks' pay, among other benefits.

Over the past two years, alphabet added more than 50,000 employees to its workforce as growing demand for its services during the pandemic boosted profitability. But in recent quarters, the company's core digital advertising business has slowed down as fears of an economic downturn and recession forced advertisers to roll back their spending.

In the last two years, we have seen periods of dramatic growth,

Pichai said the removal was part of an effort to refocus on the company's core business and its initial investment in artificial intelligence.

Alphabet is set to report three months of revenue from December 30 to early February, and Wall Street analysts expect the company's revenue to grow only 1.7 percent compared to the same period last year. This would indicate a sharp slowdown from the 32% growth posted at the same time last year. Analysts are also predicting that net income will fall by about 25% year-on-year.