Google is prepared to cancel projects and cut jobs, but not it's philanthropic efforts with Google.org. When it was first created, Google promised to use 1% of it's equity and profits for philanthropic projects. So far, they have followed through on their promise, and have been contributing to all kinds of important causes.
Larry Brilliant's new title at Google.org is Chief Philanthropy Evangelist, where he will be in charge of coming up with big ideas, and looking for partners. Day to day operations at Google.org will be passed off to long-time Googler Megan Smith -- who is also the VP of New Business Development at Google.
Megan will be an integral part of bringing Google and Google.org closer together. The projects that have had the most impact are ones that leverage Google's "technology and information" to work on important problems, so that's what she will focus on.
"over the past three years, our greatest impact has come when we've attacked problems in ways that make the most of Google's strengths in technology and information; examples of this approach include Flu Trends, RechargeIT, Clean Energy 2030, and PowerMeter. By aligning Google.org more closely with Google as a whole, Megan will ensure that we're better able to build innovative, scalable technology and information solutions."