Google's parent Alphabet announced Friday that it is cutting off around 12,000 jobs, which is six percent of its workforce.

In an email sent to employees, CEO Sundar Pichai said the company saw rapid growth over the past two years and hired new employees “for a different economic reality than the one we face today.”

Pichai said: “I take full responsibility for the decisions that led us here.”

He mentioned in the email that US employees to be laid off have already been notified. However, it is going to take longer for those in other countries because of the different regulations.

This comes two days after Microsoft announced that it would lay off about 10,000 employees in the upcoming months, after similar steps taken by Meta, Amazon, and Twitter.