According to a report, Google has put on hold the construction of a huge new company site in Silicon Valley in the US state of California due to cost reasons. Like the transmitter CNBC reportsshould the construction work for the Google campus Downtown West in the city San Jose actually start at the end of the year. The preparatory work is but stopped now been. The company commissioned was not informed when the construction site would continue.
Fallow land instead of urban development
On the 32-hectare campus, for which there is already one building permit is availableaccording to CNBC, office space should be apartments and parks are created. Now a scenario is looming in which a central part of the city lies fallow for a long time cityscape destroyed and brings no economic benefit.
Ad declines hit Google
The Google parent company Alphabet had announced at the beginning of the year, around the world 12,000 jobs to be cut. In the last quarter of 2022, Alphabet had lower sales and profits than expected, after Google, in particular, in the important Ad revenue declines had recorded. The group is expected to publish new quarterly figures next week.
