Yahoo To Lay Off More Than 1,000 Workers

[OhioChick]

Source: Information Week



Pink slips could handed out as early as Wednesday as the Internet search company restructures.

By K.C. Jones
InformationWeek
December 9, 2008 02:42 PM


Yahoo (NSDQ: YHOO) employees are likely get pink slips as early as Wednesday morning, according to a report in Dow Jones' All Things Digital technology news site.
Yahoo CEO Jerry Yang announced during an earnings report Oct. 21 that the company would lay off 10% of its employees, or about 1,500 people. All Things D's Kara Swisher said in a post Tuesday that many Yahoo workers had asked her for details since information was unavailable within the company.

Swisher said that entire projects could be eliminated in an effort to continue restructuring Yahoo. She confirmed the number of layoffs but said the total number of positions cut could rise through attrition and a hiring freeze. She said the cuts would be across the board, but human resources and finance could be hit harder than other departments because of costs.

Those who are laid off will likely have a matter of hours to leave and security will be present but discreet, as a matter of routine, according to Swisher, citing anonymous sources.

Although layoffs are a sign of the times, the news comes as Yahoo continues a lengthy struggle to turn the company around.



Read more: http://www.informationweek.com/news/showArticle.jhtml?articleID=212300502

[Tab]

1. Yahoo gambled on skipping the buyout and lost

It happens. As the saying goes, "a bird in the hand is worth two in the bush..."

FWIW, the last few days I've found a lot of Yahoo downtime - normally it's very responsive, but not so last week. Things seem to be going to hell.

It still has a lot of worth, but they missed the boat, and now that their bluff has been called, they'll have to settle for less. C'est la vie.

I use them as my home page, so I'm not anti-Yahoo, but it's a business gamble/bluff, and this time around, it didn't work. On the other hand, quite a few people got mega-rich with their post-IPO $400/share or whatever trading, so I'm not crying tears for anyone there. As with most things during the Internet boom, it was speculative. They've hung on - no easy task.

[ksimons]

2. maybe I'm a little crazy but

I can't believe they have 1000 employees anyway

[MrsBrady]

3. maybe i should change my email?