Google Tightens Belt to Cut Back on Expenses

Google Tightens Belt:-

Who would have thought that a company with a market capitalization of over $1 trillion Would cut down on free snacks and workout classes to save money? 

Google’s Tricks to Save Money

According to the memo sent out by Google’s Chief Financial Officer, Ruth Porat, employees will have to sacrifice their perks to allow the company to use the funds for higher-priority work. The memo, which was sent out on Friday also contained instructions regarding several perks including some of the company’s micro kitchens, which provide employees with free snacks like cereal, espresso, and seltzer water, as well as spending on personal equipment such as laptops, While the perks are to be reduced or eliminated, the latter would be discontinued completely. 

It also stated, “Because the equipment is a significant expense for a company of our size, we’ll be able to save meaningfully here.” Porat stated further that these modifications will be influenced majorly by factors like office location as well as trends seen in each office space. In addition to all of these, the company will also reduce its hiring pace and reallocate teams to focus on higher-priority work.

Justifying the steps taken by Google, Ryan Lamon, a Google spokesperson, said, “As we’ve publicly stated, we have a company goal to make durable savings through improved velocity and efficiency. “As part of this, we’re making some practical changes to help us remain, responsible stewards of our resources while continuing to offer industry-leading perks, benefits, and amenities,” he remarked.

This year, Google's CEO, Sundar Pichai, announced that to direct the company’s Talent and capital to its highest priorities, including Artificial Intelligence, the company would cut its staff by about 6 percent, estimated at around 12,000 employees.

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