Nuhey News

We talk about the MARKET

12,000 positions will be lost by Google parent Alphabet

Alphabet Inc., the parent company of Google, announced on Monday that it plans to cut more than 12,000 jobs due to the economic downturn caused by the coronavirus pandemic. The cuts will mostly affect employees at its subsidiary, Google Fiber, which provides high-speed internet access. Alphabet said that the cuts are necessary in order to “ensure the long-term success of our business.”

The company said that the cuts are part of a broader plan to streamline the business and reduce costs. The company also said that it will offer severance packages and other benefits to affected employees. Alphabet had previously announced that it would freeze hiring for most of its businesses for the remainder of 2020.

The job cuts come at a time when many companies are struggling due to the economic impact of the coronavirus pandemic. Alphabet’s decision to reduce its workforce is likely to impact many of its employees, as well as their families and communities.