Alphabet’s (NASDAQ: GOOGL) CEO, Sundar Pichai found himself on the defensive this week in a staff meeting, according to CNBC.
The report stated that Pichai fielded some tough questions from staff including budget cuts when it comes to travel and entertainment, productivity management, and potential layoffs at the company.
When Pichai was asked about the budget cuts when it comes to travel and entertainment, he replied, “How do I say it? The fact that you know, we are being a bit more responsible through one of the toughest macroeconomic conditions underway in the past decade, I think it’s important that as a company, we pull together to get through moments like this.”
Google, like other tech companies, is battling multiple macroeconomic headwinds including soaring inflation, rising interest rates, and reduced ad spending.
Is Google a Good Stock to Hold?
Analysts are bullish about the stock with a Strong Buy consensus rating based on 30 Buys and two Holds. The average price target for GOOGL is $142.91 implying an upside potential of 44.3%.