- Google (GOOG +0.7%, GOOGL +0.6%) is relaxing its workplace rules to allow for more relocations and more remote work.
- Some 20% of employees will permanently work from home even after offices reopen, the company says in a note to staff. And another 20% are expected to move to an office in a different city under the new flexibility.
- That means some 60% of staff will work in the office a few days a week, CEO Sundar Pichai says.
- The company has slowly been reopening, but not requiring anyone to work in the office until September.
- According to the company's 10-Q filing, an increase in compensation expense due to an 8% boost in headcount was largely offset by savings of $268M in the first quarter from savings in advertising, promotional, travel and entertainment expense - pointing to heavy savings from the work-at-home flexibility.