“There are budget cuts and hiring freezes happening across marketing and across Google… We, along with the rest of marketing, have been asked to cut our budget by about half for H2.”

Google confirmed they had been “re-evaluating” their advertising and marketing efforts, as was introduced by Google CEO Sundar Pichai final week.

Bloomberg News acquired a replica of the memo Pichai despatched final week about looming cuts the place he acknowledged:

“The clear lesson from 2008 is that preparing early is key to weathering the storm and emerging in a position to continue long-term growth…