Google (GOOG) is laying off hundreds in sales and marketing, a source familiar with the situation tells us. A Google blog post puts the number at 200.
Our source says its more, but the disparity might have something to do with firing contractors, who aren’t technically Google employees.
In its post Google writes: “We over-invested in some areas in preparation for the growth trends we were experiencing at the time.”
Translation: revenue growth has slowed faster than we thought.
After those layoffs, Google CFO Patrick Pitchette told analyst that Google could always cut more if it had to:
“We really have a cost structure that is labour intensive and we have a lot of flexibility in our model. We’re going to manage our company responsibility in that sense.”
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