Today, Google parent company Alphabet announced that it would be cutting 12,000 jobs worldwide in an effort to reduce costs. This is the largest layoff in the company’s history, and it is expected to have a ripple effect across the tech sector.

In a memo sent to staff, Google CEO Sundar Pichai said that the decision was a difficult one, but necessary in order to ensure the company’s long-term success. He also said that the company would be providing severance packages, career coaching, and other resources to those affected by the layoffs.

The layoffs come as Alphabet reported its first quarterly revenue decline in its history, due to the economic downturn caused by the COVID-19 pandemic. The company has seen a decline in advertising revenue, and has been forced to make difficult decisions to ensure its long-term financial stability.

This news has sent shockwaves throughout the tech sector, as many companies are now bracing for similar layoffs. It remains to be seen how this will affect the industry in the long run, but it is clear that Alphabet’s decision will have far-reaching implications.

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