Google CEO Sends Worrying Warning About the Economy

A potential recession will not spare many multinationals, that’s what investors who are liquidating their positions in tech giants seem to think. 

Alphabet ( (GOOGL) – Get Alphabet Inc. Report), the parent company of Google, seems to prove them right. The Mountain View-based, California company is preparing for tough times. Indeed, Sundar Pichai, the CEO, has just warned employees that the company will probably not be spared from a potential recession.

“The uncertain global economic outlook has been top of mind,” Pichai said in an internal memo reviewed by TheStreet and confirmed by a spokesperson. “Like all companies, we’re not immune to economic headwinds. Something I cherish about our culture is that we’ve never viewed these types of challenges as obstacles. Instead, we’ve seen them as opportunities to deepen our focus and invest for the long term.”

Source: https://www.thestreet.com/technology/google-ceo-sends-worrying-warning-about-the-economy?puc=yahoo&cm_ven=YAHOO&yptr=yahoo