Google parent company cutting 12K jobs

(CNN NEWSOURCE) — Alphabet, the parent company of Google announced Friday it’s cutting about 12,000 jobs.

Alphabet grew its workforce by more than 50,000 employees during the pandemic as demand for its digital services boomed.

But in recent quarters, business has slowed for the company.

In an email to employees, Alphabet’s CEO said “We hired for a different economic reality than the one we face today.”

The layoffs will affect roles across product areas and regions.

Affected U.S. employees will remain on the company’s payroll for 60 days and receive at least 16 weeks of severance pay.

Alphabet joins a number of other companies in the tech sector eliminating jobs after expanding during the pandemic.

Microsoft, Amazon, Salesforce and Facebook parent company Meta have all recently announced layoffs.