Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) layoffs are worth checking on Wednesday as recent reports claim Google job cuts are coming to Ireland.
According to these reports, the Alphabet layoffs will see some 240 employees at Google Ireland lose their jobs. The reports claim that this latest round of job cuts is part of the global layoffs Google has in the works.
It’s worth noting that Google Ireland employs about 5,500 people. That means these job cuts represent about 4% of its staff. Also, the cuts are split between the company’s sales, tech and engineering and support teams.
Google CEO Sundar Pichai initially revealed the company’s global layoff plans back in January, saying that Google intends to cut about 12,000 jobs around the world. Times for layoffs differ depending on local laws, which explains the staggered job cuts news.
Layoffs Continue to Grow
Many industries are being hit hard lately by the current state of the economy. That includes increasing inflation, rising interest rates and fears of a recession. This has led to several companies announcing layoffs over the last few weeks.
What’s more, the current economy is weighing particularly heavily on tech companies. That has resulted in more than just Alphabet announcing layoffs. Plenty of other companies in the space are also reducing headcounts to better weather the rough conditions.
GOOGL and GOOG stock are both up slightly as of Wednesday morning.
Investors looking for all of the latest stock market news today will want to keep reading.
InvestorPlace is home to all of the hottest stock market coverage traders need for Wednesday! That includes what’s happening with shares of Jeffs’ Brands (NASDAQ:JFBR), Sorrento Therapeutics (NASDAQ:SRNE) and Stellantis (NYSE:STLA) stock today. You can read up on all of that news at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.