Google parent company Alphabet to eliminate 12,000 jobs

Job cuts at Alphabet affect teams across the tech company

Lorraine Taylor / FOXBusiness

Google parent company Alphabet Inc. said it will eliminate 12,000 jobs, making it the latest tech company to lay off employees amid an uncertain economic environment.

Chief executive Sundar Pichai said the cuts affect teams globally, including recruiting, some corporate functions, as well as some engineering and products teams. The layoffs are global and impact U.S. staff immediately, Pichai told employees in an email on Friday.

"Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today," he wrote. "I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI."

Pichai said the company will provide employees in...Read more and see video here.