Google parent alphabet inc Google GOOD self-driving startup Waymo has cut dozens of jobs while parents cut spending and increases the focus on artificial intelligence.

What happened: The second job cuts this year have been confirmed by the company. Waymo has cut some engineering jobs and rebalanced headcount to be more financially disciplined this year, Bloomberg reported, citing an email from the company.

The total number of employees who lost their jobs at Waymo this year now stands at more than 200, accounting for nearly 8% of the workforce at the self-driving unit, Bloomberg reported, citing The Information.

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Why it matters: In January alphabet announced 12,000 job cuts – The layoffs came amid similar downsizing at other big tech companies like Microsoft, Meta Platforms and Twitter.

Meanwhile, Alphabet’s Google is struggling with Microsoft support OpenAis ChatGPT, which has emerged as a rival to the latter’s dominance in search.

Google has been testing a chatbot called Apprentice Bard and has been working on a project under its cloud unit called Atlas Reply to ChatGPT.

Price promotion: On Wednesday, Alphabet’s Class A shares closed up 0.3% in the regular session at $90.36, while the company’s Class C shares ended the day up 0.2%, according to data Benzinga Pro data.
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