Google cuts 12,000 jobs as layoffs spread across tech industry

Google is laying off 12,000 workers, about 6% of its workforce, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs.

Alphabet CEO Sundar Pichai, the parent company of Google, informed staff Friday at the Silicon Valley giant about the cuts in an email that was also posted on the company’s news blog.

It is one of the company’s biggest ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry. Just this month, there have been at least 48,000 job cuts announced by major companies in the sector.

Google cuts 12,000 jobs as layoffs spread across tech industry


Just this week, Microsoft announced 10,000 job cuts, or nearly 5% of its workforce. Amazon said this month its cutting 18,000 jobs, although that’s a fraction of its 1.5 million strong workforce, while business software maker Salesforce is laying off about 8,000 employees, or 10% of the total. 

Last fall Facebook parent Meta announced it would shed 11,000 positions, or 13% of its workers. Elon Musk slashed jobs at Twitter after after he acquired the social media company last fall.

Those job cuts are hitting smaller players as well. U.K.-based cybersecurity firm Sophos laid off 450 employees, or 10% of its global workforce. Cryptocurrency trading platform Coinbase cut 20% of its workforce, about 950 jobs, in its second round of layoffs in less than a year.

“The stage is being set: tech names across the board are cutting costs to preserve margins and get leaner” in the current economic climate, the Wedbush analysts said.

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