Google CEO Denied That The Search Giant is Embarking on “Aggressive Cost Saving”

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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”.  

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“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.