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Tech workforce hit again: Google cuts 12,000 jobs

January 20, 2023

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Google is the latest technology giant to announce mass layoffs amid ongoing economic challenges hitting the sector. CEO Sundar Pichai sent an email to the company’s staff Friday indicating that jobs cuts will begin immediately in the U.S., with other countries to follow.

Rising interest rates and infaction have contributed signifacntly to the cost cutting trend seen across the big tech space. In particular, increased interest rates from the U.S. Federal Reserve has lowered the interest for shares of these companies.

The memo also detailed the steps Google is taking to support those impacted “as they look for their next opportunity.” These steps include severance package starting at 16 weeks salary and six months of healthcare, job placement services and immigration support.

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