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...just afternoon tea that's falling by the wayside at the famously employee-friendly firm. Although Google hasn't handed out pink slips to any of its 20,000 full-time employees, it has cut about half its additional 10,000 contract workers in recent months. Previously one of the biggest recruiters of M.B.A.s on college campuses, Google is now eschewing such pricey new hires, although it is still bringing on new engineers...
Most analysts forecast decent growth for Google in 2009. But Trip Chowdhry of Global Equities Research predicts that the firm will lay off anywhere from 10% to 15% of its employees in 2009 as a result of stagnating revenue. "This is not only for Google. This is for every Internet company that has only one revenue source, which is advertising," says Chowdhry. He estimates that the company will bring in $14.57 billion by 2010, down 4% from an estimated $15.71 billion in 2008. Sanford Bernstein's Lindsay, on the other hand, recently lowered his upbeat forecast for the search giant...
...that match keywords that people type into search engines. The rates for those ads are determined by advertisers, who bid for top placement. But advertisers have begun lowering their bids because they aren't getting the returns (also known as conversion rates) that they expected. In late November, research firm eMarketer lowered the 15% increase in online ad spending for 2009 that it had projected in August to just under...
...economic recession even worse, taking job losses to areas that had so far dodged the downturn. Denver-based Delta Petroleum said it planned to cut its capital budget in half next year. Other companies are not waiting until next year. Matthew Simmons, who heads Simmons & Co., an investment-banking firm focused on energy companies, says he has been surprised at how fast firms have begun to cut exploration. He has already heard of a number of drilling projects that have been put on hold. "Unless prices rebound fast, energy companies are going to spend less next year," says Simmons...
...border or escalated tensions the way a preceding government in 2001 had done after militants struck the Parliament building. "You have to take action without undercutting the people who want to cooperate with you," says Amitabh Dubey, director of India research for Trusted Sources, a London-based risk consultancy firm. "But they're going to have to be seen to do something...