Alphabet’s self-driving car unit has cut 8% of its workforce this year | CNN Business
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CNN
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Waymo, the self-driving car division of Google ( GOOGL ) parent Alphabet, said Wednesday it has cut about 8 percent of its workforce in two rounds of layoffs this year.
About 209 jobs were eliminated in total, following cuts in late January and another more recent round, the company confirmed Wednesday.
“We took a thoughtful approach and are confident we are providing for each of these former teammates during this transition,” the company said in a statement to CNN on Wednesday. “We are confident we have the right teams in place to make Waymo successful.”
Waymo’s job cuts come amid a series of layoffs in the tech sector as the industry adjusts to waning demand for digital services years after the pandemic and faces broader uncertainty in the world economy. Rising interest rates have also dried up easy access to funding for technology companies that are used to fuel ambitious projects and bets on the future.
Alphabet said in January it was cutting 12,000 jobs, or 6% of its workforce, after growing by more than 50,000 employees over the previous two years. The cuts at Waymo highlight that even Alphabet’s most ambitious and high-profile long-term bets are not immune to its renewed focus on reining in costs.
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