Google Saved Over $1 Billion Last Year

Google parent company Alphabet Inc. saved $268 million in expenses during the first quarter of 2021 compared to the same time last year “primarily as a result of Covid-19” according to a new company filing.

With many Google employees still working from home and not traveling on the company’s dime, expenses for company promotions, travel and entertainment have plummeted.

Google is known for its well-amenitized offices featuring massage tables, catered lunches and corporate retreats. However, most staffers have worked without those perks since March of 2020.

This amounts to savings of over $1 billion on an annualized basis. In fact, Alphabet’s annual report from early this year showed that advertising and promotional expenses fell by $1.4 billion and travel and entertainment expenses dropped by $371 million last year.

The company plans to return to the office this year through a hybrid model, allowing the workspace to be less dense than pre-pandemic levels.