Google parent company Alphabet

Google parent cuts 12,000 jobs after pandemic hiring spree

The job cuts affect 6 percent of its workforce and Sundar Pichai, Alphabet's boss since 2019, said in the memo on Friday that he took "full responsibility" for the decisions that led to the layoffs.

Shares in Mountain View, California-based Alphabet, which boosted its workforce by nearly a third through 2020 and 2021, rose 4 percent on Friday (local time). They have fallen 30 percent in the past 12 months, echoing a 24 percent slump in the broader tech industry .