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.

"Intel is investing heavily (think gazillions of dollars and bazillions of engineering man hours) in resources to create an Intel host controllers spec in order to speed time to market of the USB 3.0 technology." -- Intel blogger Nick Knupffer
Related Articles
Yahoo to Make Big Changes
January 16, 2008, 12:16 PM

Latest Blog Posts
Amazon Fire HD 8
Nenfort Golit - Jun 19, 2017, 6:00 AM

Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki