Google Slows New Hiring Due To Covid-19, Looks To Invest In Strategic Areas
Alphabet Inc's Google will slow hiring for the rest of the year, Chief Executive Officer Sundar Pichai told the company's staff in a memo on Wednesday. This has been the most drastic action by the web search giant since the Covid-19 pandemic began battering its advertising business several weeks ago.
In the mail, Pichai told the staff about various other cost-cutting measures, and said that the company will be “recalibrating the focus and pace of our investments in areas like data centers and machines, and non business essential marketing and travel,” Bloomberg reported.
ALSO READ: Coronavrius LIVE updates: India total rises to 12,456; Delhi cases at 1,650
“The entire global economy is hurting, and Google and Alphabet are not immune to the effects of this global pandemic,” Pichai wrote. “We exist in an ecosystem of partnerships and interconnected businesses, many of whom are feeling significant pain.”
"We'll be slowing down the pace of hiring, while maintaining momentum in a small number of strategic areas, and onboarding the many people who've been hired but haven't started yet", a Google spokesperson said.
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more