Today, Google’s parent company Alphabet announced plans to lay off 12,000 employees, citing “economic reality” as the cause. In an email to staff, CEO Sundar Pichai said the layoffs will take place globally and are part of a restructuring effort to become more efficient.

The move marks a major shift for the tech giant, which has seen its share of success in recent years. According to Reuters, the layoffs could signal a return to a more modest future for Big Tech.

The news has been met with mixed reactions from the public. Some are concerned about the impact on employees who will be affected by the layoffs, while others are hopeful that the restructuring will lead to more efficient operations.

Alphabet has yet to announce details on how it will handle the layoffs, but it is expected to provide more information in the coming days. This story is developing and we will continue to update our coverage as more details become available.