Google has cleared the final hurdle, the OK of anti-trust regulators in the EU, and will take over DoubleClick. DoubleClick is well-positioned to help Google consolidate its position in Internet marketing, advertising, and tracking customer surfing habits; and they specialize in multimedia ads that could possibly draw advertising revenue away from television. So the good news at DoubleClick is you're soon to be part of the most successful search company ever. For a lot of people, the bad news will be: you're fired.
Besides opening up new opportunities, Google's takeover of DoubleClick will create more challenges for a management team already grappling with concerns about how the slowing U.S. economy will affect the company's earnings growth this year.
Google Chairman Eric Schmidt acknowledged in a statement that the biggest acquisition in the company's 9 1/2-year history probably will trigger an unspecified number of layoffs after years of relentless hiring. The looming job cuts will be concentrated in the United States, although Schmidt said offices in other countries could be affected.
New York-based DoubleClick has 1,500 employees with offices in France, England, Germany, Ireland, Spain, Australia and Spain. Mountain View-based Google employs nearly 17,000 workers, up from 1,600 just four years ago.
Maybe the casualties could buy Google stock with their severance pay and get rich! Or buy food. Food's good too.