Google has laid off hundreds of employees working on its hardware, voice assistance and engineering teams as part of cost-cutting measures.

The cuts come as Google looks towards “responsibly investing in our company’s biggest priorities and the significant opportunities ahead,” the company said in a statement.

Separately, Amazon said it is cutting several hundred positions across its Prime Video and MGM Studios unit.

[Does this sound like an economy that’s booming, or one sliding toward stagnation? The NFL just laid off a significant percentage of its personnel for the second time in eight months too. — Ed]