Google to lay off 12,000 people (3 min read)
Alphabet joined the tech layoffs train on Friday after the company said it will cut 12,000 employees, which is about 6% of its workforce. Shares of Alphabet were up 5% after the news. Rising interest rates and inflation are the two biggest challenges faced by technology and media companies that have severely impacted their stream of income and revenue in the past year. Along with Alphabet, Vox Media, Wayfair, and Fandom also announced job cuts on Friday.