http://208.113.68.10/article/viewarticle/articleid/2956808
Google Lays Off 100 Recruiters As Recession Catches Up Internet giant Google Inc. (NASDAQ: GOOG), late on Wednesday announced that it is cutting roughly 100 jobs in order to bring costs under control. The Mountain View, California based company said in an online posting that the layoffs are coming from the company's (GOOG) "recruiting organization." Vice president of people operations Laszlo Bock wrote "Given the state of the economy, we recognized that we needed fewer people focused on hiring." Bock added "Our first step to address this was to wind down almost all our contracts with external contractors and vendors providing recruiting services for Google. However, after much consideration, we have with great regret decided that we need to go further. He concluded "We know this change will be very difficult for the people concerned, and we hope that many of them will be able to find new roles at Google." "Our strong desire is to keep as many of these 70 engineering employees at Google as possible," wrote Google's vice president for engineering and research, Alan Eustace." Our long-term goal is not to trim the number of people we have working on engineering projects or reduce our global presence, but create a smaller number of more effective engineering sites," he added. Meanwhile company spokesman Matt Furman said the 100 employees laid off represent "less than 25% of the total recruiter workforce." Google said the latest move allows them to "build larger and more effective teams, reduce communication overhead, and give engineers increased options for future projects." In October, Google had said that it has continued with hiring despite the economic downturn, though at a reduced pace. However, in recent times the company has taken measures to reduce expenses as a deepening of recession forced businesses and government to curb spending on technology. Last week the company had disclosed in a regulatory filing that it has reduced the number of contract workers and temporary staffs. Additionally, the company has also closed some of its free cafeterias. According to unconfirmed reports, Google is also planning to shut down or stop supporting few free web based services which are running low on popularity. As of Sep. 30 Google employed 20,123 people globally. Most of the technology companies have been feeling the pinch of global economic squeeze. Rumors of a job cut at software giant Microsoft (NASDAQ: MSFT) and IBM (NYSE: IBM) too have been gaining ground on the internet. On Wednesday, Motorola Corp. (NYSE: MOT) announced will lay off 4,000 workers or 6% of its global workforce. According to Forrester Research, technology spending by business and government, when measured in U.S. dollars, is expected to decline by 3% globally this year, the first drop since 2002. Shares of Google Inc. fell $8.66 or 2.80% to $292.37 in afternoon trade on Thursday. Disclosure: Author does not own any of the stocks discussed here. -- Salman Khan Blog: salmanspeaks.co.nr Phone +919350159178 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
