Google plans to eliminate approximately 300 jobs at DoubleClick, the company it recently acquired. This represents one-quarter of the 1200 Doubleclick jobs in North America.
DoubleClick employs 1500 employees worldwide. Employees outside the USA may be affected by this downsizing later.
Google also plans to sell DoubleClick’s Performics a search marketing/advertising firm on search engines such as Google, Yahoo and Microsoft. Keeping Performics would put Google in a conflict of interest because it would be engaged in business on both sides of the table, essentially because of selling advertising space on its own engine.
Google shares are currently trading in the $460 range, after reaching a peak of $750 in November 2007, which is a significant plunge within just 5 months.
In addition, rumors are circulating that Google may also acquire Skype (eBay) and the online travel site Expedia.com.