A lot of different explanations here and they're probably all true as it is a combination:

1. Interests going up means less economic activity (at least how our current financial system is setup) 2. Everyone else does it, so you can trim down without stigma. 3. We are hitting an economic recession and the companies remember how bad times can go so they want to prepare.

A more cynical thing is, as we are hitting this economic troubles ahead, things will most likely get cheaper. If Google have more money they can buy more of their competitors and ensure to bigger marketshare for cheaper.