Google CFO Patrick Pichette is keeping the lid on costs
Cautious about global economic conditions, Google has pulled back on hiring and put the screws to costs.
The adjusts became public Thursday as the Internet power house Google posted solid third-quarter earnings. On a conference call, it said it was worried about the economic landscape.
“It’s pretty clear the economic situation globally is worst than just a month ago,” said Chief Executive Eric Schmidt. “We’re going to keep a very close eye on costs.”
The company put stringent cost controls in place over the past 90 days and has become more cautious in its hiring.
But investments in search move ahead. The downturn will focus the company to invest in its core search platform, both to improve search results and results for advertisers, Schmidt said,
