The company laid off 100 recruiters earlier in the year to reflect reduced hiring efforts.
The 300 lost jobs this year represent a little over one percent of the company's payroll.
Senior VP Omid Kordestani said the affected employees will be given a chance to find another position within the company, and severance packages if they end up leaving.
Kordestani blamed redundancy, as well as misplaced ambition. "We over-invested in some areas in preparation for the growth trends we were experiencing at the time," he wrote.
Shares of the company jumped slightly on the news before returning to where it started at the beginning of the day, trading even at 4:39 p.m. ET.
Google has also been cutting back on perks, such as the company's famous free gourmet food.
Starting last year, the company has been closing cafes on its campus.
Jackson West figures the contract cafe workers won't be getting "outplacement support."