Google, one of the largest search engines on the Internet (Internets - as good 'ol GW would say) is currently laying off around 200 workers, which, in the grand scheme of all of Google's employees, is probably not too much, but for a Fortune 500 company with stock prices at nearly $347.50 per share, it's a "big deal". According to MSNBC.com, there are approximately 20,200 workers; therefore, this is only affecting 1% of employees worldwide. $347.50 a share for a piece of Google is pretty pricey, especially compared to the illustrious CitiBank stock, where, at a low this year was performing around $2.50 a share (yes, that's two dollars and fifty cents) and is now at approximately $2.66 a share.
Why bother laying off only two hundred workers when it's barely going to put a dent in retained earnings, on a large scale?
At this point, with the economy in the condition that it's in, you need to ask yourself (or Google, for that matter), if the layoff is completely necessary, or if it's being done as "compensation" to show that some of these higher-earning companies are still "suffering", just as the smaller companies are.
Yes, as the automotive companies, financial industry and newspapers take their respective hits, illustrious old Google is rolling with the punches, taking their medicine and laying off (with possible recall, mind you) one percent of their employees.
The employees that were laid off, reportedly, weren't even higher-earning positions, they were smaller positions, such as trainers, outside contractors and excess marketeers. The two hundred jobs that were sacrificed could have potentially been saved had the decision-makers of this conundrum decided to consolidate these positions and lay off a few higher-earning execs instead. Doesn't sound like too much of a burden to me.
Then again, a burden in the hand is worth a slew of Google stock shares. At least from their perspective.
Once again, Corporate America is at its game of trampling upon the smaller business, the smaller worker and working-class America itself.
The point of this post?
Just my opinion: I'm no economic analyst and I'm no representative of our great financial system.
If Google is laying off miniscule-paying positions to take their role in the Recession, you know the bottom's got to be near soon. They simply wouldn't pull this stunt otherwise.