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As Covid-19 continues to wreak havoc on the global economy, Alphabet-owned Google is poised make significant cuts to its marketing spend, according to CNBC.
In documents seen by the news outlet, a memo addressed to the company’s marketing team earlier this week informed employees of budget cuts and a hiring freeze to be implemented in the second half of the year.
One message asserts that marketing budgets could be cut by as much as half for the remainder of the year as the company attempts to adapt to the economic impact of the ongoing pandemic.
“As we outlined last week, we are reevaluating the pace of our investment plans for the remainder of 2020 and will focus on a select number of important marketing efforts,” a Google spokesperson said.
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