Google reduced costs during the epidemic, paused or rescheduled the campaign, and turned some events into digital formats only. This has reduced expenses.
With the lifting of the COVID-19 ban, more people are booking online travel and hotels, which is great for Google’s advertisingtimegent business. However, Google employees are working from home and are not traveling, which is also good for the company’s business.
During the first quarter, Google’s parent company Alphabet saved $ 268 million (about Rs 1,980 crore) in the company’s promotion, travel and entertainment expenses compared to the same period a year earlier, which is particularly COVID- It is possible because of 19. Annually, this would be more than $ 1 billion (about Rs 7,400 crore).
Reduction in expenses due to this
Indeed, Alphabet earlier this year stated in its annual report that advertisers and promotion expenses decreased by $ 1.4 billion (about Rs 10,360 crore) in 2020 as the company slashed, prevented or campaigned during the epidemic. Changed the reschedule and some events to digital format only. In such a way, travel and entertainment expenses were reduced by $ 371 million (about Rs 2,740 crore).
These savings compensate for the many costs that come with hiring thousands more employees. The epidemic helped the company effectively maintain its marketing and administrative costs for the first quarter, despite increasing revenue by 34 percent. However, Google is notorious for its perks such as massage tables, catered food and corporate retreats, which have greatly influenced the work culture of Silicon Valley. Most Google employees have worked remotely and without those perks since March of 2020.
On the other hand, Google plans to return to office later this year. Chief Financial Officer Ruth Porat told investors that the company is planning a “hybrid” model, with fewer employees than before. Porat also said that Google will continue to invest in its real estate worldwide.
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