U.S. Markets close in 3 hrs 8 mins

Google CEO responds to employees after pulling back on expenses

Yahoo Finance Live anchors discuss Google CEO Sundar Pichai's comments to employees at an all-hands meeting amid cost-cutting measures.

Video Transcript


JULIE HYMAN: Google CEO Sundar Pichai sending a clear signal to tighten belts at the tech company, in audio obtained by CNBC. Pichai said, at an all [? hands-- ?] quote, "We shouldn't always equate fun with money."

And what he was replying to-- that's sort of taking a little bit out of context. But apparently, there was a big discussion about the pullback that the company has done in expenses and various perks for employees, and people are not too happy about that. And he's saying, listen, this is a time of belt-tightening. We have to realize what's going on in the wider world.

BRAD SMITH: A lot of that was self brought on though, too, for retention mechanisms, for talent acquisition. They were trying to make it so that, this is a place you want to come and spend more than eight hours of your day at.


BRAD SMITH: You want to be here for 12 or 14 hours instead, and have the ability to have your gym or all of your food experiences--

JULIE HYMAN: Ping pong.

BRAD SMITH: --all in one. Ping pong, everything of the like. And so now, that they're saying, don't equate fun with money, in essence here, it also does come with the realization that there's going to be talent out there that very much even thinks back to the GFC and is like, well, those things were still remaining intact at that time. At least [INAUDIBLE]

JULIE HYMAN: These kids and their ping pong.