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Internet Yahoo Trades Pink Slips for Greenbacks
Shane McGlaun (Blog) - January 22, 2008 4:24 PM
Print E-mail del.icio.us 15 comment(s) - last by Tsuwamono.. on Feb 9 at 11:16 PM
Yahoo insider says job cuts likely to be in the hundreds, not thousands reported by some sources

For a long time if you wanted to find something online you went to Google, Yahoo or MSN. There are some smaller search players out there, but these are the big three. Yahoo is now lagging well behind Google in the search business leading to dropping stock prices and calls for layoffs by analysts.

A source close to Yahoo claims it is considering cutbacks that will lead to layoffs for hundreds of Yahoo employees. The Silicon Alley Insider blog posted that Yahoo is considering cutting 1,500 to 2,000 jobs within the next two weeks. Yahoo spokesperson Diana Wong declined to comment on either force reduction estimate.

A Yahoo insider told Reuters that the job cuts would be announced on January 29, 2008 when Yahoo reports its year end results. Yahoo currently employs around 14,000 people compared to 11,600 for the previous year.

Analyst Jeffrey Lindsay from Sanford C. Bernstein called for Yahoo to cut 15-20% of its workforce to bring stock prices back up.

Yahoo co-founder and CEO Jerry Yang told Reuters that the company is focusing on three main areas including making Yahoo the starting point for more Internet users, making its ads must buys for advertisers and opening its sites up to outside developers. Reuters’ source says that the job cuts will focus on anything that doesn’t help Yahoo focus on its three main areas.

DailyTech reported earlier this month on some of the other changes Yahoo plans to make during 2008.

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Bummer
By lindejos on 1/22/2008 6:29:21 PM , Rating: 3
Sorry to the people who get axed, but that's what the industry is like right now. Everything from stock prices to jobs are falling.

Hopefully it's a couple hundred and not 2000 folks.




RE: Bummer
By Tsuwamono on 1/22/2008 8:56:45 PM , Rating: 1
sorry about the us economy.. Good time to be Canadian eh?


RE: Bummer
By elpresidente2075 on 1/22/2008 9:58:41 PM , Rating: 5
Funny you ask that in the dead of winter...


RE: Bummer
By Samus on 1/23/2008 1:52:43 AM , Rating: 1
Haha, I just got back from Jamaica, and am sad to be home in Chicago now. It's like an 80 degree temperature difference in the same timezone ;)

So I can't imagine how f-ing cold it is 8 hours north of here.


RE: Bummer
By Tsuwamono on 2/9/2008 11:16:14 PM , Rating: 2
I seem to be the only one who likes the winter apparently


RE: Bummer
By Omega215D on 1/23/2008 1:39:52 AM , Rating: 3
Not from what I've read in the newspapers. Thanks to the dangers of a recession in the US other countries are having a bad time in their stock markets. Germany looks to be the highest with 7.2% drop.


RE: Bummer
By lumbergeek on 1/23/2008 12:41:04 PM , Rating: 2
I AM Canadian, but the slowdown in US housing starts is hell on wheels for my ability to earn a living right now.


Don't Fret Yahoo Employees !
By Fnoob on 1/23/08, Rating: 0
RE: Don't Fret Yahoo Employees !
By TechIsGr8 on 1/23/2008 1:07:43 PM , Rating: 4
Do you have a better way to pay down Bush's $10 trillion national debt? I take it you prefer the "borrow and spend" Republican policy that has directly led to our economic meltdown. "Tax and spend" actually ends up costing us all a lot less money than the "borrow and spend" Republicans have screwed us with.


RE: Don't Fret Yahoo Employees !
By Fnoob on 1/23/08, Rating: 0
RE: Don't Fret Yahoo Employees !
By Fnoob on 1/24/2008 10:22:48 AM , Rating: 2
I never realised how far left the majority is here. Amazing for a tech site, considering that, in general, the more education a person receives, the farther towards the right or libertarianism they go.

Do you libs really believe Bush ran that debt up by himself? Had nothing to do with a democrat Congress and absurd amounts of pork?

Do you really find yourself feeling so philanthropic that you want MORE of your paycheck withheld in taxes? If so vote democrat - they will do that for you.

Granted "tax and spend" makes more sense than "borrow and spend"... but damn folks, can you not see how taxation has run businesses out of the US? You folks sound like you want to tax "the evil rich" to feed the poor. Umm, the "evil rich" employ you, and if they leave, how much tax will the gov't get from your non-existant paycheck?


Funny
By aguilpa1 on 1/23/2008 12:18:05 PM , Rating: 2
Funny how non US folks make their little quibble responses about how sad it is about the US economy. Don't they realize that the US economy is tied to the global economy. If one goes so does the other. We're in the same boat folks. Just like a ship, one side may go down first but eventually the rest follows down with it.




RE: Funny
By oneils on 1/23/2008 1:00:01 PM , Rating: 3
I think Tsuwamono just meant it as good natured ribbing. Trust me, us Canadians know how much we need a healthy U.S. economy.


I know a solution
By UppityMatt on 1/23/2008 11:38:20 AM , Rating: 2
Maybe get rid of all the crap on your homepage...and people would be more inclined to use your search engine. I am sorry but i like the clean feel of google. This goes for Yahoo and MSN.




The US system sucks
By TechIsGr8 on 1/23/2008 1:05:32 PM , Rating: 2
"Analyst Jeffrey Lindsay from Sanford C. Bernstein called for Yahoo to cut 15-20% of its workforce to bring stock prices back up. "

I really love it how a market analyst can call for a layoff and that the stock price can dictate hardship for people just trying to make a living. It's always about how to fix the current quarter so the stock price will go up. How about thinking longer-term in growing the brand, like Japan for example, then the stock price will naturally follow as the long term investment pays off. The US is such a freaking joke with its corporatocrisy. How about a change back to democracy and do things that promote the health and welfare of Americans, rather than the profitability of multi-national corporations? Freaking joke, this America...




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