Worst of global recession behind us: Google CEO

Last Updated: Thursday, September 24, 2009, 00:07

Tags: global recession, Google CEO

Worst of global recession behind us: Google CEO

Pittsburgh:Google CEO Eric Schmidt said acquisitions are "turned on again" at the Internet company and expects to do one small deal a month instead of hiring new staff.

Schmidt also reiterated his view that the worst of the global recession is over, seeing improvement both inside and outside the United States.

"It's clear that the worst is behind us," Schmidt told Reuters Television in an interview on Wednesday, ahead of delivering a speech on green technology on the fringes of the G20 summit in Pittsburgh, Pennsylvania.

"What we see at Google is some level of improvement and what is more important is we see it not just in the United States but outside the United States," he said.

Schmidt also said acquisition activity was returning to normal at his company. Google has historically maintained a steady pace of acquiring small, privately held companies but its deal machine took a breather earlier this year when Schmidt said that prices were too high for his liking.

Bureau Report

First Published: Thursday, September 24, 2009, 00:07