Google Is Saving Over $1 Billion a Year by Working From Home
Wednesday April 28, 2021. 10:08 PM , from Slashdot
With Covid-19 restrictions lifting, more people are booking trips and hotels online, which is very good for Google's advertising business. Google's employees, however, are working from home and not traveling as much on the company dime -- and that's also good for its business. From a report: During the first quarter, Google parent Alphabet saved $268 million in expenses from company promotions, travel and entertainment, compared to same period a year earlier, 'primarily as a result of COVID-19,' according to a company filing. On an annualized basis, that would be more than $1 billion. Indeed, Alphabet said in its annual report earlier this year that advertising and promotional expenses dropped by $1.4 billion in 2020 as the company reduced spending, paused or rescheduled campaigns, and changed some events to digital-only formats due to the pandemic. Travel and entertainment expenses fell by $371 million. The savings offset many of the costs that came with hiring thousands more workers. And the pandemic prudence allowed the company to keep its marketing and administrative costs effectively flat for the first quarter, despite boosting revenue by 34%.
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