Is Google Immume To The Economic Downturn? Is Search?

January 17, 2009 by Pablo Palatnik

We all know Google as being the engine that makes the internet go round. Of course, no one in this economic environment is saved from what’s going on and it affects all of us, individuals and companies alike. Many analyst see the internet as one of the safe havens as an industry but the truth of the matter is we’re all hurting.

This week news came out that Google fired 100 employees and its actually making news meanwhile there are companies either going bankrupt or dismissing a good percentage of their workforce. This is significant because these employees that were let go are recruiters as you’ll see in the video above. Don’t be fooled. As you know there are very smart people running Google and this is just a strategy for further growth in this economic downturn.

The stock is almost (Friday Jan 16, 2008) at its 52-week low at $299.00 which is a far cry from its day of over $600+ where analyst thought the company would hit a much larger stock figure per share.

Google said it actually is still hiring people. From the AlleyInsider, “Wall Street expects Google’s net revenue to grow 11% this year, from $15.8 billion to $17.7 billion. This estimate is down from about 20% expected growth only a few months ago. Given layoffs and the speed at which the global economy is deteriorating, estimating low single-digit growth (or even no growth) would be more reasonable.”