The announcement by Google parent Alphabet that it will slash 6 per cent of its full-time workforce spend and spend $US500 million ($700 million) to cut its global office footprint cast a cloud on Friday over the tech giant’s local commitments to landlords Mirvac, GPT and Pembroke.
In full-year 2022 results released on Thursday (Friday AEDT), Alphabet said it would also spend between $US1.9 billion and $US2.3 billion in employee severance costs and said it could cut office costs more than originally stated.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
