Google was rapidly hiring during COVID, but now is looking to cut personnel and reduce expenses as recession looms. Impact on stock price?

The billionaire leaders of Google are leaning toward an austerity program. Everything from reduced staff levels to less business travel to cheap Christmas parties were topics in a recent company-wide meeting. I am not sure what this means for the stock price. What are your thoughts?

https://www.cnbc.com/2022/09/23/google-ceo-pichai-fields-questions-on-cost-cuts-at-all-hands-meeting-.html