Google not beyond hiring freeze

AN interesting post has popped up on the CNBC website – the guys who produce the best financial shows on the planet (IMHO), writes Mark Hollands. Its reporter and anchor, David Faber, says that the icon of the modern media age, Google, has implemented a hiring freeze. Perhaps it’s not quite the doom and gloom message of other media but it illustrates that no firm is immune from the challenges of the media industry and the economy.

Even hiring at “secretarial level” had been stopped, according to unnamed executives to whom Faber spoke.

A company spokesman at Google dismissed suggestions there was any formal policy to stop hiring. In the US, Google has been one of the most aggressive hirers in the past five years with a workforce of that now stands at more than 20,000. Sounding like any other Mahogany Row under cost pressure, management said vacancies could be filled only with internal candidates, according to Faber.

Google’s YouTube is not going so flash, apparently. In many media reports, advertisers have expressed concerns about the sorts of videos their advertisements will be displayed alongside. Clearly, agencies and their clients are concerned about the potential impact on their brands should they advertise alongside pornography, violence and all manner of other activities captured on YouTube. So, for the moment at least, YouTube has some more selling to do.

Google CEO Eric Schmidt hinted at a slowdown in hiring during his Q3 fiscal report to the market. Google won’t be heading for the poor house any time soon. This morning, its stock finished north by more than $20 or 5.9 percent to stand at a shade under $US367. And the new building which will house the company in Sydney – just a stone-throw across a small park from Fairfax Media in Darling Harbour – is pretty much finished, too, with only an internal fit-out to be done. It is said by the construction company to be Sydney’s first “six-star” office building (whatever that means). For the full NBC story, go to http://www.cnbc.com/id/27539152

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