Google slashes 12,000 jobs, as tech sector layoffs proceed

Google parent company alphabet is the latesttech giant to trim thousands of jobs the company announced its slashing six percent of itsWorkforce Google's largest ever round of layoffs follows recent cuts by Microsoft Amazon and metathe parent company of Facebook Michael George has been following the tech trim Michael good morningMichelle good morning now some experts call this a correction tech companies boom during thepandemic over hired and now they have to adjust to a post-pandemic economy but really there'sno way to spend this as positive more than ten thousand people are suddenly finding themselvesunemployed alphabet the parent company of Google is cutting 12 000 jobs about six percent of itsWorkforce in an email the company's CEO wrote over the past two years we've seen periods of dramaticgrowth to match and fuel that growth we hired for.

A different economic reality than the one we facetoday the belt tightening at Google follows other recent Tech sector job Cuts Microsoft announcedearlier this week it's laying off ten thousand workers or nearly five percent of its WorkforceAmazon has said it's cutting 18 000 jobs and meta the parent company of Facebook announced it'slaying off eleven thousand positions I think that many companies are right sizing theirtheir staff many tech companies went on a pandemic hiring spree because of increased demandfor their products as millions of people worked remotely by late last year Google's parent companyalphabet said it had nearly 187 000 employees on the books it is pretty easy for most companies tocut 10 to 15 percent of their employee base right now economists say what's happening in Tech is sofar an exception in the labor market the overall.

Labor market has been remarkably resilient thelatest data we have through December suggested it is holding up despite higher interest ratesIsaac Del Rosario is a recently laid off software engineer in Seattle I've been in the interviewhunt for about four months now Del Rosario is finding job openings by looking outside of thebig Tech Giants surprisingly I've been able to get interviews from more like smaller startups fornewly out of work software Engineers a job search beyond the big name companies may be the way togo and even with the new downsizing many of the big tech companies are still bigger than they werebefore the pandemic now laid off Google workers will get a severance package of 16 weeks salaryplus two weeks for every year at the company and it's important to note despite the massivelayoffs in Tech overall the nation's unemployment.

Rate last month was 3.5 percent that's a50-year low Jeff Michael thank you very much

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