Google cuts 12,000 jobs as layoffs spread across tech industry

The Information reports that Google's layoffs span nearly every division, including projects like Chrome, Search, Android, and Google Cloud. Its sources said they affected people who previously had "high performance ratings" and some managers who earned between $500,000 and $1 million.

Amazon confirmed to us a few months ago that the layoffs include jobs in its Devices and Services divisions. Then, in early January, hardware chief Dave Limp said on CNBC's TechCheck that layoffs affected nearly 2,000 people in his department, which is home to products like Alexa and its Echo smart home devices. Items identified include video calling devices for children and telehealth services.

Big tech and Wall Street titans are leading the wave of layoffs across the United States as companies seek to rein in costs to weather the economic downturn. Rapid rate hikes, weak consumer demand and a slowing Chinese economy have forced companies including Amazon, Walt Disney, Facebook owner Meta and Bank of America to lay off workers.

The gloomy outlook for the global economy in 2023 has prompted several large tech companies and Wall Street titans to lay off staff across all their global offices. Many tech companies, including Microsoft, Twitter and Meta, have already been affected by this wave of layoffs. On Friday, Google parent Alphabet began adding the latest company to the list of IT giants opting for layoffs.