frontpage - 12:29 am on Nov 28, 2008 (gmt 0) You might want to rethink this as a few Wallstreet companies are reporting the same thing such as Forbes. Google's Stealth Layoffs Ouch!
That Adsense warning folks received a few weeks back is making more and more sense. Canary in the coal mine.
Whether Google's use of permatemps is good or bad doesn't change the fact that the article would never get past an editor on a legitimate news site. Google has been letting go of workers and avoiding nasty headlines through a loophole in legal law, it appears. According to reports, Google has about 30,000 employees, though only 20,000 are officially listed as full-time workers. The other 10,000 are listed as contractors. Since these contractors aren't full-timers, Google doesn't have to announce when it trims its "temporary contractor" workforce by 1,000 here or 500 there. It has been doing just that. Some are suggesting that Google is misleading Wall Street and investors with this practice. The problem is that many of the "temporary" workers being affected have been with Google for up to five years. That doesn't sound very temporary to me. Evil? You be the judge.
Until housing prices drop to 2001 levels and oil hits $25 a barrel again--or incomes go up dramatically--there won't be enough discretionary income to keep Google's advertising-driven business growing, Chowdhry figures. "Because Google is the leader for the consumer Internet, their success is their curse," Chowdhry says.
You might want to rethink this as a few Wallstreet companies are reporting the same thing such as Forbes.
Google's Stealth Layoffs