Updated News Around the World

Google CFO Signals More Spending Cuts to Meet Savings Targets

Google, which operates this dining area at its Bay View campus in Mountain View, Calif., will close cafeterias on days with modest traffic, its finance chief said.


David Paul Morris/Bloomberg News

Google’s finance chief told employees to expect more spending cuts in areas from how it uses its servers to when it closes employee cafes as the company tries to meet savings targets this year.

Ruth Porat,

who serves as chief financial officer of both Google and parent company

Alphabet Inc.,

GOOG 2.32%

said Friday in a staff memo that Google would eliminate some snack bars, or “microkitchens,” and close cafeterias on days with modest traffic. Google will also introduce an internal tool that helps teams pick low-cost providers of outside services such as software and equipment providers.

“Just as we did in 2008, we’ll be looking at data to identify other areas of spending that aren’t as effective as they should be, or that don’t scale at our size,” Ms. Porat wrote in the email.

One of Google’s objectives this year is to “deliver durable savings through improved velocity and efficiency,” Ms. Porat wrote.

“This work is particularly vital because of our recent growth, the challenging economic environment, and our incredible investment opportunities to drive technology forward – particularly in AI,” she wrote.

Photo: Dado Ruvic/Reuters

Write to Miles Kruppa at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.