LayoffBlog.com

November 24, 2008

Google slows hiring but Schmidt says firm is still doing ‘exciting and crazy things’

According to Bloomberg News: “Google, owner of the most popular Internet search engine, is adding fewer employees and focusing on controlling expenses amid the global economic slump, CEO Eric Schmidt said Monday. “We have slowed our hiring, but we’re still hiring,” he said in an interview. ”We’re still doing the same kinds of exciting and crazy things that Google always does.”Google is grappling with an economic slowdown that is curbing growth in online advertising, while competition intensifies with Yahoo and Microsoft. Schmidt said that while the ad market may be shrinking, Google benefits from its ability to target specific users.

Google, which had more than 20,000 employees at the end of the third quarter, up from almost 11,000 at the end of 2006, added 519 workers in the third quarter, compared with 2,130 in the same period a year earlier.

Google fell $4.99 to $257.44 Monday in Nasdaq Stock Market trading. The shares have lost 63 percent this year.”

1 Comment »

  1. […] details: Google slows hiring but Schmidt says firm is still doing ‘exciting … […]

    Pingback by Google slows hiring but Schmidt says firm is still doing ‘exciting … | kozmom — November 25, 2008 @ 8:06 am | Reply


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