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According to the latest reports from The Wall Street Journal and Bloomberg, there is an effort underway by Alphabet Inc. to slash some of its long-term projects and R&D divisions, including Google’s own satellite imaging unit.
Alphabet chief financial officer Ruth Porat, a former finance chief from Morgan Stanley, is said to be cutting back on some of the search engine giant’s more ambitious projects. This includes suspending Google Fiber expansion plans until affordability catches up with demand, and selling its satellite imaging division (formerly known as Terra Bella) to a competitor known as Planet. As for acquiring mapping data in the future, the company plans to purchase it from other independent groups rather than launching and operating expensive satellites.
According to the latest reports from The Wall Street Journal and Bloomberg, there is an effort underway by Alphabet Inc. to slash some of its long-term projects and R&D divisions, including Google’s own satellite imaging unit.
Alphabet chief financial officer Ruth Porat, a former finance chief from Morgan Stanley, is said to be cutting back on some of the search engine giant’s more ambitious projects. This includes suspending Google Fiber expansion plans until affordability catches up with demand, and selling its satellite imaging division (formerly known as Terra Bella) to a competitor known as Planet. As for acquiring mapping data in the future, the company plans to purchase it from other independent groups rather than launching and operating expensive satellites.
