Google parent Alphabet announced it will eliminate approximately 12,000 jobs, around 6% of its global workforce. The company thus joins high-profile technology firms which have recently culled their workforces.

Sundar Pichai, CEO of Google and parent company Alphabet detailed the layoffs in a blog. “This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I’m deeply sorry for that. The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here.”

He noted the company had experienced periods of dramatic growth over the past two years but those people were hired for a different economic reality than the one we face today. Affected US-based employees will be paid for a minimum of 60 days and will receive their 2022 bonuses and remaining holiday time. The company lined up a severance package equivalent to 16 weeks’ pay plus two additional weeks for each year they were employed, six months of healthcare, immigration support, and job placement services.