According to Google’s financial report, the company spent $18.46 billion on its sales and marketing efforts in 2019.
The California-based tech company is reportedly reducing its marketing spends by 50% for the second half of 2020, an internal memo reviewed by CNBC said. Though the memo did not specify any particular business unit or product group, it indicated the reduction would happen “across marketing and across Google.”
CNBC attributed the internal memo to an unnamed “global director” at Google. The strategy could potentially also include a “hiring freeze” for both contract and full-time employees.
A company spokesperson said that Google will be now selective about its marketing efforts. Alphabet Inc. and Google CEO Sundar Pichai earlier said the company is cutting back on new hires as a part of COVID-19 response strategy.
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