Skip to comments.Yahoo Layoffs: 600 (-700) Jobs Cut in Long-Rumored Move
Posted on 12/14/2010 4:19:55 PM PST by fight_truth_decay
NEW YORK (CNNMoney.com) -- Yahoo cut about 600 jobs Tuesday, the company confirmed, finally swinging the ax on layoffs that had been widely rumored for weeks.
The layoffs represent a 4% reduction in Yahoo's global workforce, said a Yahoo spokesperson, although the company didn't specify which divisions suffered cuts. In an e-mailed statement, the company said its "personnel changes are part of our ongoing strategy to best position Yahoo! for revenue growth."
The Yahoo spokesperson said the company will "continue to hire on a global basis to support our key priorities," and laid-off employees will receive severance packages and outplacement services.
(Excerpt) Read more at money.cnn.com ...
Yahoo "will contiune to hire on a global basis". Is that a round-a-bout way of saying "outsource"?
This will mark Yahoos fourth mass layoff in the past three years.
Yahoo 4-Day Stock Chart
So more layoffs in the US and hiring overseas.
And H1-Bs here too.
Where exactly do Yahoo’s revenues come from? Other than pop-up and partner advertizing, I’m not sure? I, nor nobody I know has ever written a check to Yahoo.
Oh thank goodness! More unemployment money to stimulate the economy. Perhaps Nancy can convince Yahoo! to fire the rest of its employees so we can really get this thing booming!
Maybe this is why I couldn’t get Yahoo finance to load this morning for about an hour. A bit of sabotage?
Yahoo! 360° Plus Vietnam
Only a matter of time before Google or Microsoft buy Yahoo!
...maybe checking for pink slips to see if they had been naughty or nice..
Targeted advertizing. I get it. But it's nothing tangible and how many people can you employ based on advertizing? I know many such tech companies operated almost entirely on market cap funds until their bubble burst. Speculative hope drove their stock prices so high, the cash just kept pouring in. For a while that is.
“Perhaps, Yahoo should have taken the Microsoft deal of— a $47.5 billion buyout in 2008.”
No perhaps about it. They were the biggest flaming morons in history not to take that deal. Not taking that deal was in some ways the opposing bookend to Time Warner agreeing to bot out by AOL a decade or so ago.
I know a founder of portal TriPod which was one of the first social networking sites geared for college students back in the 90's..they were college students/professor and sold out for, I am told, 58Mil, buyers were Lycos which developed one of the first crawler-based search engines, sold to Spanish Internet co. Terra Networks for $12.5 billion in stock at the height of the Internet bubble 2000. Then Lycos was sold again for $36 Mil to Ybrant Digital [India]. For an online-marketing company like Ybrant, the purchase of Lycos at a bargain price could help it provide content around which to sell ads.
Yahoo Inc. and Lycos Europe, once rival Web portals turned business partners
Yahoo was found sleeping at the wheel and Google came along side and sped past ..
...Little info about the people who were there at the beginning and now promoting Foursquare and Groupon with Yahoo mentioned.
Business to Business.
Yahoo tried to send the notices via email, but the Yahoo mail virus detector prevented them from being seen, while simultaneously allowing 20,000 pieces of spam email to arrive in each box.
ROFL! Ain’t it the truth.