Like it or not, Google is widely considered to be a leader within the technology industry. Flagship companies such as themselves, Apple, and Microsoft are important companies to watch during a market downturn. Downsizing at these multibillion dollar corporations are viewed as a devastating reminder that even the strongest companies aren’t immune to the decline. In a recent interview with the Wall Street Journal, Google CEO Eric Schmidt outlined several cost cutting initiatives to help keep revenue on track.

 "We have to behave as though we don't know" what's going to happen, says Google Chief Executive Eric Schmidt. The company will curtail the "dark matter," he says, projects that "haven't really caught on" and "aren't really that exciting." He says the company is "not going to give" an engineer 20 people to work with on certain experimental projects anymore. "When the cycle comes back," he says, "we will be able to fund his brilliant vision."

Here is brief list of changes in store for the engineers at Google:

Does trouble at Google signal the peek of our economic woes or is it just par for the course?

(Image Credit ABC News)

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