According to CNBC , which gained access to an internal Google memo, the company plans to cut its marketing budget by “about half” for the second half of 2020.
It is not known exactly which team the statement was sent to, but there are references to “budget cuts and hiring freezes going on in marketing and Google”.
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In response, a Google spokesman acknowledged the budget cuts, but signaled that not all teams are affected by the budget cut:
“As we outlined last week, we are reevaluating the pace of our investment plans for the remainder of 2020 and will focus on a selected number of important marketing efforts,” said a company spokesman in a statement sent to CNBC on Thursday .
“We continue to have a robust marketing budget, mainly in digital, in many areas of business.“
The cuts are unlikely to reach “essential marketing”, but they will certainly freeze additional funds for communications that are not in line with digital.
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