Google to scale back Fiber broadband network plans

Alphabet, the parent company of Google, has announced that it will be cooling off its pursuit of the broadband industry by reducing its investment in its Google Fiber network.

In the last two years Google has made strides to expand its high-speed internet network to 20 cities, but now the plans have been put on hold, according to a blog post from the company.

About 9% of staff who were assigned to the project are to be reassigned, and chief executive Craig Barratt said he would be stepping down.

The idea to move into large cities was one that was not cohesive among all those involved with Google Fiber, with some top executives uncertain that the project would be profitable.

While work will continue in those areas where it has already started, Barratt revealed that "potential Fiber cities" would be pausing their operations.

"In this handful of cities that are still in an exploratory stage, and in certain related areas of our supporting operations, we'll be reducing our employee base," said Barratt.

Barratt has indicated he will not be in charge of the project any more, but will continue as an advisor.

"I've decided this is the right juncture to step aside from my CEO role. Larry has asked me to continue as an advisor, so I'll still be around."