Google has been one of the topmost companies that are generating a lot of revenue. One can say that the pandemic has brought some profit for the company too. Though it looks like how can a pandemic be useful? But Google has saved over $1 Billion by allowing their employees to work from home which saves many rupees as one won’t spend any money on some unwanted things. Alphabet’s ad and promotional expenses in Q2, 2020 decreased from $3.7 billion in Q1 to $2.4 billion. The reduction is attributed to paused or rescheduled campaigns, digital-only event formats, and lower spending on TV ads.
Millions of people have already discovered the benefits of working from home. Increased productivity, less time lost to commuting and costly business travel, and more family time is the top reasons people choose to work at home. It does not matter what you do or how old you are, working from home can be good for everyone. It saves one both time and money; it allows him to have a better work-life balance and to have more time for his family.
Members of the so-called “work-from-home club” have saved around $1 billion in work-related expenses, according to an estimate by the Italian press agency Ansa. In the first quarter of 2016, Google saved $268 million in expenses from company promotions, travel, and entertainment, compared to the year-ago period. A company statement released in Forbes notes that Alphabet’s advertising and promotional expenses dropped by $1.4 billion in 2020 due to reduced spending, paused or rescheduled campaigns, and digital-only event formats. Travel and entertainment expenses fell by $371 million.
Google reported a significant decrease in their overall wage expenses as a result of the restructuring. Marketing and administrative costs remained the same relative to the business because of the restructuring. The report submitted by Google CFO showed that the company has been able to cut the $3 Million marketing and administrative costs in the 3rd quarter of the 2020 financial year.
Google has announced that it will reopen its offices in most areas around September this year. This will depend on the situation with COVID-19, but it is likely to happen as countries recover from the pandemic. This will depend on the spread of COVID-19; if the pandemic is contained, they are likely to open their offices. But the statement has given a boost to all the major employees who are trying their best to lift up the company and compensate for the loss that they have borne in this pandemic.
Ruth Porat, CFO of Google, outlined plans to cut back on office space in order to save money. Additionally, employees will be given adequate space and privacy to reduce unnecessary interactions. Porat believes that Google’s effectiveness will not be affected. Google says it will continue to invest in the world and expand its real estate acreage.
Now they are trying their best to get up and do some work in the offices to take on the new challenges that are in front of the employees. But who knows what will happen in the future and how this pandemic will end?