Google to lay off 12,000 people, memo from CEO Sundar Pichai says

Google CEO Sundar Pichai by Maurizio Pesce is licensed under Maurizio Pesce

Google said Friday it will lay off 12,000 people from its workforce, adding to the slew of major U.S. tech companies cutting jobs amid fears of an oncoming recession.

Sundar Pichai, Google’s CEO, said in an email sent to the company’s staff Friday that the firm will begin making layoffs in the U.S. immediately. In other countries, the process “will take longer due to local laws and practices,” he said. CNBC reported in November that Google employees had been fearing layoffs as its counterparts made cuts and as employees saw changes to the company’s performance ratings system.

The web search and video sharing giant will offer U.S.-based employees 16 weeks of severance pay plus two weeks for each additional year they’ve worked at Google, Pichai added.

Google shares were up more than 5% in early trading after the news.

Google CEO Sundar Pichai by Maurizio Pesce is licensed under Maurizio Pesce