Google parent Alphabet Inc. said it will cut about 12,000 jobs, more than 6% of its global workforce, becoming the latest tech giant to retrench after years of abundant growth and hiring.
The cuts will affect jobs globally and across the entire company, Chief Executive Officer Sundar Pichai told employees in an email on Friday, writing that he takes “full responsibility for the decisions that led us here.”
Shares of Alphabet gained as much as 1.8% during premarket trading in New York on Friday after the announcement was made public. The stock has fallen about 30% over the past year.
