For growth-minded tech companies, employees are becoming an increasingly important resource. Hiring in the tech sector has been on an upswing for the past four years.
So it's no surprise that bellwether tech companies Google, Yahoo, eBay and Amazon added a combined 5,600 net employees in the third quarter, reports The New York Times.
The article notes that employee costs comprise the biggest chunk of total cash operating expenses. Several financial analysts knocked Google for spending so much on staff in the second quarter, though it certainly didn't appear to hurt the search giant's stock price.
According to the Times, Google hired 2,130 employees in the third quarter, up 15 percent from 1,548 new hires in Q2. Year-over-year, Google's hiring was up a whopping 70 percent. Its hiring is expected to slow in the fourth quarter and into early 2008, however.
Though its hiring wasn't quite as robust as Google, Yahoo added 1,200 employees in Q3, up 10 percent from Q2 and 24 percent more than the previous year. Amazon added 1,400 employees, up 10 percent from Q2 and 19 percent more than the previous year.
Yahoo attributed its staff growth primarily to organic growth in product development, while Amazon said that the bulk of Q3 hiring related to its fulfillment-center operations. Cagey as ever, Google apparently just wasn't saying why it hired so many new folks.