The search giant’s spending came under scrutiny at the company-wide briefing in New York, where Sundar Pichai said growth would be “limited” going forward. Pichai was asked why Google was “cramming employees” by cutting travel budgets and moving away from “quick hire and spend” when it had “record profits and huge cash reserves. “I remember when Google was small and rambling. “Pichai said, CNBC reported. “We shouldn’t always equate fun with money. I think you can get into a startup that works hard and people can have fun and that shouldn’t always mean money.”
Google’s owner, Alphabet, reported a 14% drop in profits for the second quarter of this year to $16 billion, compared to the same period last year, but revenues jumped 13% to just over $69 billion. Pichai said the company was acting responsibly during one of the toughest economic times this decade and urged staff to pull together to help weather the storm. “I’m a little concerned that you think what we’ve done is what you would define as aggressive cost saving,” he said, CNBC reported. “I think it’s important that we don’t get disconnected. You have to take a long-term view in conditions like this.”
A Google spokesperson told the broadcaster, “Sundar has spoken to the company regularly over the past few months about ways to focus us more.”
The spokesperson added that “company leaders strive to be accountable and efficient in everything their teams do” and “to ensure that our people are working on the most impactful/highest work.” priority”. Google did not immediately respond to Insider’s request for comment.