“It obviously will affect the online advertising market because our systems are so tightly tuned. If customers are buying less, it will eventually be reflected in CPCs [cost per click] and CPMs [cost per thousand impressions],” he said. “We are not immune to this.”
Then Google promptly announced 6-figure bonuses for its top executives!
Jonathan Rosenberg, who oversees Google’s products, received the largest bonus at $1.64 million..
Omid Kordestani, Google’s top sales executive, and Alan Eustace, who oversees the company’s engineers, each got bonuses of $1.38 million…
Google gave a $1.24 million to its chief financial officer, Patrick Pichette, for his contributions after joining the company in August…
George Reyes, Google’s CFO before Pichette, received a 2008 bonus of $675,000
While these bonuses were lower compared to 2007, it’s likely little comfort for Google’s investors–who saw their Google stock drop 56% in 2008.
What do you think? Google’s profit rose only 1% this past year, so do these bonuses reflect the hard work put in to achieve this growth, or do you believe Google gave out more than it should have?