Google to Slow Hiring, 'Reevaluate' Investments For Rest of 2020: Report [TheStreet.com]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: TheStreet.com
Google is looking to cut costs in response to the coronavirus pandemic, according to a company memo.Bloomberg reported that Sundar Pichai, CEO of Alphabet(GOOGLGet ReportGoogle is “recalibrating the focus and pace of our investments in areas like data centers and machines, and non business essential marketing and travel,” the email read.Google will also "take a more critical look at the pace of hiring" for the rest of the year. Alphabet had about 119,000 employees at the end of last year, and had been planning to hire about 20,000 new employees this year.Alphabet shares are down about 8% year to date.The memo added that work-from-home procedures made it more difficult to properly train and onboard new employees.While the memo didn't go into much specific detail around how the pandemic has affected Google's financial results, Pichai wrote that '"the entire global economy is hurting, and Google and Alphabet are not immune to the effects of this global pandemic."Economic disruptions tied
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