As profit growth faces its lowest levels this year, Google will be “more careful” by making fewer acquisitions and slowing hiring, said CEO Eric Schmidt in an interview with Bloomberg.
“All of us are vulnerable,” he said. ”It's a race between a contraction in advertising, which would affect everybody, and a very positive shift from offline to online.”
Google spent more than $3.38 billion over the past year on acquisitions including DoubleClick Inc.
And fear not Google staffers: he also says there are no plans to cut employee perks like gourmet cafeterias.
Google Being More Careful Amid Slump, Schmidt Says [Bloomberg]
