Alphabet reported having a headcount of 163,906 employees as of the end of March, according to a regulatory filing, an increase of more than 20,000 staffers from the year prior.

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The Google memo is the latest indication that the once high-flying tech sector is facing a new reality check after having only recently enjoyed a surge in demand from shifting consumer behavior during the pandemic. Spiking inflation levels, rising interest rates and fears of a looming recession have led a slew of tech companies to recently announce that they are slowing hiring or cutting staff.

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A growing number of tech companies have announced layoffs, including Netflix and Coinbase. GoPuff, an ultra-fast delivery startup, recently notified investors that it plans to cut 10% of its global workforce and close dozens of its US warehouses. Microsoft also confirmed earlier this week that it was cutting a small number of jobs, though it plans to continue hiring.

Alphabet reported having a headcount of 163,906 employees as of the end of March, according to a regulatory filing, an increase of more than 20,000 staffers from the year prior.

*

The Google memo is the latest indication that the once high-flying tech sector is facing a new reality check after having only recently enjoyed a surge in demand from shifting consumer behavior during the pandemic. Spiking inflation levels, rising interest rates and fears of a looming recession have led a slew of tech companies to recently announce that they are slowing hiring or cutting staff.

*

A growing number of tech companies have announced layoffs, including Netflix and Coinbase. GoPuff, an ultra-fast delivery startup, recently notified investors that it plans to cut 10% of its global workforce and close dozens of its US warehouses. Microsoft also confirmed earlier this week that it was cutting a small number of jobs, though it plans to continue hiring.