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>But we're in a slump to say the least. I don't know what this "we" is to which you refer, as Google's Q1 2020 revenue outpaced Wall Street estimates by 3-4%,
by s3r3nity 6y ago
>But we're in a slump to say the least.
I don't know what this "we" is to which you refer, as Google's Q1 2020 revenue outpaced Wall Street estimates by 3-4%, and shares have increased 6% since their last earnings call, outperforming the S&P 500.
I agree with your point that Google, nor any company, is obliged to take on workers if that's their business decision, but let's not pretend that Google is getting hit _that_ hard by the recession.
- dougmwne 6y agoQ1 only covers through the end of March which would have only seen a few weeks of social distancing in some regions. Budgets take time to slash, and ripples take time to spread. The lean times could last for years and the common advice for surviving recessions is to cut as deeply and quickly as you can to preserve cash. That's why many companies are doing layoffs before they actually see a quarterly revenue performance hit. Organizations take time to move so decision makers need to lead the target.
- rswail 6y ago> let's not pretend that Google is getting hit _that_ hard by the recession. yet... Google's primary source of revenue is advertising (84% in 2019). Marketing and advertising are the first things that companies cut.