Google’s parent company, Alphabet, announced a global plan to cut 12,000 jobs on Friday, following a trend of other technology giants to restructure their workforce. This announcement comes one day after Microsoft announced plans to lay off 10,000 workers in the coming months.

Other major technology companies like Facebook, Amazon, and Twitter have also announced plans to cut staff as the sector faces economic uncertainty.

In an email sent to workers, Alphabet CEO Sundar Pichai stated that the job cuts are a response to “an economic reality we face today” and that the company has conducted a thorough review of all products and activities to ensure that their workforce and positions align with the company’s priorities. He added that the decision to cut jobs will have a significant impact on the lives of Googlers and that he takes full responsibility for the decisions that led to this point.