Alphabet and Google CEO Sundar Pichai announced about 12,000 job cuts globally, as his company became the latest US tech giant to enact large-scale restructuring. Google's parent company Alphabet announced about 12,000 job cuts globally on Friday citing a changing "economic reality", becoming the latest US tech giant to enact large-scale restructuring. Pichai said American employees have already been notified about the cuts while reductions in other countries will take longer due to local labour laws. Wall Street welcomed the cuts: Alphabet shares rose by 3.5 percent in electronic trading before the stock market opened. Hewlett Packard and cloud computing giant Salesforce also announced major cuts this month as rampant inflation and rising interest rates have slowed growth.
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