Image Source: Free Press Journal
Tech giant Google is reportedly implementing cost-cutting measures amidst layoffs and recession fears. The company’s Chief Financial Officer Ruth Porat sent a memo to employees, informing them that perks such as free snacks and workout classes will be reduced based on the needs of each office location. The micro kitchen that provides free snacks will only be available on days with higher volumes, and fitness class schedules will be adjusted based on usage.
Additionally, Google will discontinue spending on personal equipment such as laptops, instead allocating funds to higher-priority work. Porat noted that this move will result in significant savings for a company of Google’s size.
The memo also stated that the company will reduce its hiring pace and reallocate teams to focus on higher-priority work. Google recently informed employees that some workers will have to share desk space as the company downsizes some of its offices. This news follows Google CEO Sundar Pichai’s announcement in January that approximately 12,000 people, accounting for over 6% of the total workforce, would be laid off globally.