Google is the latest tech giant to slow down hiring

Google plans to slow down hiring by the end of the year

Google and parent company Alphabet CEO Sundar Pichai announced the news in an internal memo on Tuesday amid "uncertain global economic prospects"

Google confirmed the letter's authenticity to CNN Business, but declined to comment further

Alphabet had 163,906 employees at the end of March, according to a government filing

This number increased by more than 20,000 employees compared to the previous year

The Google memo is the latest sign that the tech sector is once again facing another reality

Rising inflation, rising interest rates, and fears of an impending recession recently prompted many tech companies to make announcements

that they delay the process of hiring or firing employees

A growing number of tech companies have announced layoffs, including Netflix and Coinbase