Google’s parent Alphabet Inc is eliminating about 12,000 jobs, or 6% of its workforce, the company said Friday, in the latest cuts to shake the technology sector. Sundar Pichai, Alphabet’s CEO, said in a staff memo shared with Reuters that the company had rapidly expanded headcount in recent years ‘for a different economic reality than the one we face today.’ Pichai added, “I take full responsibility for the decisions that led us here.” The cuts come days after rival Microsoft Corp said it would lay off 10,000 workers. Alphabet’s job losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams. The layoffs are global and impact US staff immediately. Alphabet has already emailed affected employees, the memo said, while the process will take longer in other countries due to local employment laws and practices.