Google Hiring Slowdown? We Hope So (GOOG)

The folks at Wired, Valleywag and other sites are debating whether Google (GOOG) is cutting down on new hires. But this one is pretty straightforward: Google is cutting down on new hires.

How do we know? Because Google has told us that it’s cutting down on new hires. And Wall Street likes this, because Wall Street is constantly worried about both Google’s payroll and capex, especially as margins shrink. Here’s graphic representation of that concern, via AmTech’s Rob Sanderson:

The good news, says Sanderson: Since new hires at Google are down 41%, y/y, over the last nine months, margins should improve in the last two quarters of 2008.

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