As with a number of other companies, and following in the footsteps of the somewhat “proactive” move of cutting jobs, Google Inc. announces a fall of 68 per cent of it’s profitable margins.

Google’s profit in the previous quarter, released Thursday, fell to $352 million U.S. - a fall of nearly 70 per cent, and about $1.21 per share - the fall is mostly attributed to the falling value of Cleanwire Corp. and AOL LLC. Google says that without one-time charges (which, since they happen every year - just aren’t predictable, isn’t all that valuable of a metric) profit would’ve been closer to $5 U.S. per share.

Over the last few weeks, Google has announced the real effects of the economic recession in the United States on it’s business - shutting down a number of barely used products, eliminating a set of development stations and announcing a small number of layoffs and a lack of intention to hire any future employees.

 Print This   Email This   Share/Save