Search engine giant Google is giving 200 employees the ax. The sales and marketing workers are losing their jobs because executives say they “over-invested” in parts of the company.
Earlier this year, Google let 100 recruiters go and announced 40 more people would get pink slips when the company reined in its advertising budget.
While all job cuts should be taken seriously, these numbers are pretty small when taken in perspective. Google has nearly 21,000 employees. The cuts are a pretty small percentage compared to some other giants in the computer, cable and telecom industries.
Meantime, Google’s top executives are trying to set an example for those tycoons who are still taking giant bonuses. The company’s co-founders and chief executive took only $1 each in salaries last year, with no bonuses and no stock options. They’ve done this every year since 2005.
Of course, you don’t have to feel sorry for co-founders Larry Page and Sergey Brin, as well as CEO Eric Schmidt. Page and Brin each own about $10 billion in Google stock, while Schmidt’s shares are worth more than $3 billion.