Layoffs are on the rise across various industries, although the tech industry has taken a huge hit in recent months. Amazon, Alphabet and Microsoft have all recently cut jobs.
Pichai said he takes full responsibility for the decisions that led the company to this point.
"Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today," he said. Amazon said in early January that it would lay off more than 18,000 employees in what will be its largest workforce reduction to date. The company started cutting jobs on Jan. 18.
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