Google’s CEO has denied the tech behemoth is doing “aggressive cost saving” and told staff they should not “equate fun with money” at an all-hands meeting this week, CNBC first reported.
The search giant’s spending was scrutinized at the company-wide briefing in New York, where Sundar Pichai said growth would be “constrained” going forward.
Pichai was asked why Google was “nick-and-diming employees” by cutting travel budgets and moving away from “rapidly hiring and spending”, despite it having “record profits and huge cash reserves”.
“I remember when Google was small and scrappy,” Pichai said, CNBC reported. “We shouldn’t always equate fun with money. I think you can walk into a hard-working startup, and people may be having fun, and it shouldn’t always equate to money.”
Google’s owner, Alphabet, reported a 14% fall in profit for the second quarter of this year to $16 billion, compared with the same period last year. Still, revenues soared 13% to just over $69 billion.
Pichai said the search giant acted responsibly during one of the most difficult economic periods this decade and urged that staff pull together to help weather the storm.
