Eric Schmidt on Bloomberg talking about Google’s coming cost cuts. Highlights:
- No layoffs
- Continued “overspending” on CAPEX
- Slowing hiring,
- Cutting marketing costs
- Avoid blowing cash on acquisitions.
Also, Eric hopes non-PC based search advertising will account for “more than one per cent” of the company’s revenues — some day. That is a bit more conservative than his previous assessment that mobile advertising was a bigger opportunity than PC. (See: “Google Still Dreaming of a $50 Billion Mobile Ad Market“)
But don’t take our word for it. Check out the convenient 60-second version of Schmidt’s 10 minute Bloomberg TV interview, below.