From the article:

“How do I say it?” Pichai began his measured response. “Look, I hope all of you are reading the news, externally. The fact that you know, we are being a bit more responsible through one of the toughest macroeconomic conditions underway in the past decade, I think it’s important that as a company, we pull together to get through moments like this.”

Basically they are gonna downsize despite sitting on a mountain of cash. Apparently this is because of the macroeconomic climate and slow growth. Could just be an excuse but it seems believable there is some truth as well.