Google will stop building its “mega-campus” in Silicon Valley due to budget cuts. This was reported by the American news outlet CNBC. This campus was to cover over 30 hectares and had to include space for offices, homes and shops.
The first demolition phase was already complete when Google decided to abandon the construction. CNBC writes. According to the sources the news outlet spoke to, there are no concrete plans to continue construction yet. Sources predict that if construction continues, the size of the so-called “midtown west” campus will be much smaller than planned.
Like many other tech companies, Google is seeing a significant drop in revenue. This is due in part to the decline in the field of digital advertising, from which almost all of the company’s income comes. As a result, the company has already announced several rounds of layoffs and wants to reduce office space.
In a response to CNBC, Google said it is “evaluating how best to move forward with the Midwest” and remains “committed for the long term” to its San Jose, California, campus location. The mayor of the city claims in response that nothing has changed, that Google is only re-evaluating the construction schedule, According to The Verge.
Campus building Approved in 2021. West Downtown shall include more than 680,000 square feet of office space, 4,000 homes, more than 4,000 square feet of retail and “cultural space,” and 6 acres of parkland. According to San Jose The project should eventually bring the city more than $19 billion and create 20,000 jobs within ten years.
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