Phone interview, waited a week and then heard back the news they're no longer hiring anymore because of cost cutting... hmm shouldn't they have known they were cutting costs before this? Not a good look

I applied for this position online. One week later, I received a questionnaire from HR asking some general question about my application. After answering the questions, I received another email to set up an interview with HR. The HR was very professional and respectful. First he gave me a brief introduction about company and position. Then he ask some general and straight forward questions about my back ground and how I'm going to fit in that position. At the end, he gave me the opportunity to ask my questions.