Google to Allow More Staff to Work Remotely

Google says it is moving toward a hybrid model of employees working in the office, in new office locations, or from home.
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Google is giving employees more flexibility to work from different locations or entirely from home, as the search-engine giant prepares for a return to office life after the COVID-19 pandemic.

Shares of Google parent Alphabet  (GOOGL) - Get Report at last check were up nearly 1% to $2,372.

Employees can continue to work remotely through this September, a Google spokesperson said in an email.

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"We expect that the future of our company will be a hybrid model, where around 60% of Googlers are coming together with teams in the office a few days a week, another 20% are working in new office locations, and 20% are working from home," the spokesperson said.

Alphabet ended the first quarter with 140,000 direct employees. The company was one of the first to send employees home in 2020.

"Our campuses have been at the heart of our Google community, and the majority of our employees still want to be on campus some of the time," the spokesperson said. 

"And many of us would also enjoy the flexibility of working from home a couple days of week, spending time in another city for part of the year, or even moving there permanently. "

Last week, Alphabet beat Wall Street's first-quarter-earnings expectations by a wide margin.

Revenue totaled $55.31 billion up from $44.16 billion a year earlier. 

The company said the increases in revenue were driven by elevated consumer activity online and broad-based growth in ad revenue.

The results prompted a raft of Wall Street analysts to lift their one-year price targets on the stock.

Last month, Google said it planned to invest more than $7 billion on offices and data centers across the U.S. this year, including $1 billion in California.