Google’s parent Alphabet, Inc. cutting 12,000 jobs

According to a Reuter’s exclusive report, Google’s parent Alphabet Inc (GOOGL.O) is eliminating about 12,000 jobs or 6% of its workforce, as Silicon Valley reels from recent layoffs and faces uncertainty. Alphabet is making the cuts just as the U.S. company faces unprecedented concerns about maintaining its long uncontested position at the top of the tech sector.

For years Alphabet attracted top talent to build Google, YouTube, and other products that reach billions of users, but it is now facing competition from Microsoft Corp (MSFT.O) in a burgeoning area known as generative artificial intelligence.