: Google isn’t done with cost cutting, CFO warns: report


Alphabet Inc.’s GOOGL, +2.81% GOOG, +2.65% Google isn’t done with spending cuts, Chief Financial Officer Ruth Porat warned employees Friday in a memo to staff. Porat said the company, which is known for employee perks, will eliminate some snack bars, known as microkitchens, and will close cafeterias on days with modest traffic, according to a report in the Wall Street Journal. Additionally, Google will introduce an internal tool that helps teams pick low-cost providers for outside services such as software and equipment. “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,” Porat wrote in the email. In recent weeks, Facebook parent Meta Platforms Inc. META, +1.97% and Amazon.com Inc. AMZN, +1.26% have each announced a second wave of layoffs as the tech sector navigates a rough economic stretch.

This article was originally published by Marketwatch.com. Read the original article here.

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