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Google: We're Not 'Recession-Proof'

Google may have posted solid fourth quarter earnings, but the Web giant still isn't recession proof, said company executives speaking at the World Economic Forum in Davos, Switzerland.

"We are seeing certain companies slow down their advertising spend, at the same time we are seeing smaller companies continue to spend because they rely on the online world for their instant revenue," said Nikesh Arora, Google's president of Europe, Middle East and Africa operations in a Bloomberg Television interview.

Arora said Google isn't "recession-proof" but is resilient to the economic downturn, and has no plans for hiring or salary freezes. However, the company is trimming some jobs and pulling underperforming products to keep its costs under control. Google cut back on its capital expenditures by 46% last quarter.

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