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Working from home | Google saves $1 billion a year, plans to implement hybrid model: Report

In its annual report for 2020, Alphabet said advertising and promotional expenses dropped by $1.4 billion in 2020.

April 29, 2021 / 11:19 AM IST
Google is saving more than $1 billion annually by working from home due to the COVID-19 pandemic, Bloomberg reported.

Google is saving more than $1 billion annually by working from home due to the COVID-19 pandemic, Bloomberg reported.


Google is saving more than $1 billion annually by working from home due to the COVID-19 pandemic, Bloomberg reported.

During the first quarter of 2021, Google's parent company Alphabet said it saved $268 million in expenses from company promotions, travel and entertainment, compared with the same quarter last year, "primarily as a result of COVID-19."

The business news website reported that this potentially translates to $1 billion a year.

Alphabet's marketing and administrative costs were effectively flat

Many Google employees have not been travelling much for work and mostly been working from home. The perks for the staff, such as massage tables, catered cuisine and corporate retreats, have been missing since the pandemic began in March 2020, Bloomberg reported.

In its annual report for 2020, Alphabet said advertising and promotional expenses had dropped by $1.4 billion in 2020 due to a cut in spending, paused or rescheduled campaigns, and modified some events to digital-only formats.

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The company's travel and entertainment expenses fell by $371 million in 2020.

However, Google is planning on resuming working from office again, the report said. Chief Financial Officer Ruth Porat told investors the company was planning a 'hybrid' model and would space staff less densely than before, Bloomberg reported.



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Moneycontrol News
first published: Apr 29, 2021 11:19 am
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