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For nine years, the CFO role at Google and parent company Alphabet was held by Ruth Porat, who took a giant pay package in 2015 to leave Wall Street for Silicon Valley. "But I think any organization can always push a little further and I'll be looking at additional opportunities." During the Q&A portion of the call, Evercore ISI's Mark Mahaney asked, "As you're coming in looking at this fresh, is it clear to you there are a lot of newfound cost efficiencies or ongoing cost efficiencies?" The new CFO said one way Google can find additional efficiencies is by using AI "within our own processes and how we get work done." WATCH: Google search benefiting from generative AI
Persons: Ruth Porat, Porat's, Anat Ashkenazi, Sundar Pichai, Ruth, Sundar, Ashkenazi, Eli Lilly, Porat, There's, Pichai, Askenazi, Evercore, Mark Mahaney Organizations: Google, Tuesday Locations: Silicon Valley
Google's finance chief Ruth Porat recently said in a rare companywide email that the company is making cuts to employee services. “These are big, multi-year efforts,” Porat said in a Friday email titled: "Our company-wide OKR on durable savings." In separate documents viewed by CNBC, Google said it's cutting back on fitness classes, staplers, tape, and the frequency of laptop replacements for employees. One of the company's important objectives for 2023 is to "deliver durable savings through improved velocity and efficiency." The company declined to pay the remainder of laid-off employees’ maternity and medical leaves, CNBC previously reported.
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