NeoWin has reported that in a post on the official Google blog, the Associate General Counsel, Mike Yang confirmed the changes will be formally in place on October 3rd. He described the changes as...
"Long, complicated and lawyerly—that's what most people think about privacy policies, and for good reason," Adding... "So we’re simplifying and updating Google’s privacy policies. We want to make our policies more transparent and understandable."
The upshot of this is that 12 different privacy policies the company currently has for its various services will be streamlined into one, and that the language of that policy will be written more in English than in legalese. Finally they say that they're removing parts of the policies that are no longer relevant.
The company has also put online a page describing the tools that are available for users to help improve their privacy with Google even further.
Update: Google has been in the news recently for merging the privacy policies of more than 60 of the company's services. Google itself claimed that it would simplify things for its users and that it would allow the company to create a better user experience for logged in users.
Privacy advocates and users have criticized Google for the move, stating that the company's main intention for the change was to drive up the ad revenue with the move. Google furthermore has been criticized for providing no option to refuse the privacy change.