Google Gears Down for Tougher Times
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Corporate austerity is reaching one of the most extravagant spenders of the boom years. Google Inc. has begun to tighten its belt. For much of its 10-year history, Google spent money at a pace that was the marvel of Silicon Valley. It hired by the thousands and dished out generous perks, including three free meals a day, free doctors, ski trips and laundry facilities, and subsidized personal trainers. It let engineers spend 20% of their time pursuing pet projects. The company's goal was to develop new products that would reduce its nearly total reliance on selling ads connected to Internet searches.
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