Investing Club: Layoffs at Alphabet are the latest sign Big Tech is finally taking steps to manage ballooning expenses
Google parent company Alphabet on Friday became the latest technology giant to lay off thousands of workers — a move we expected from the Club holding given falling advertising revenue and growing fears of a recession. Alphabet CEO Sundar Pichai announced the headcount reductions in an email to staff Friday, saying the firm plans to eliminate around 12,000 jobs , or 6% of its global workforce. Pichai said layoffs in the U.S. would begin immediately.
A sign is posted in front of a Google office on April 26, 2022 in San Francisco, California. Google parent company Alphabet will report first quarter earnings today after the closing bell.
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