Yahoo Layoffs are for Real

Discussion in 'Yahoo' started by internetmarketingiq, Oct 21, 2008.

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  1. #1
    This from the Yahoo Portal
    http://tech.yahoo.com/news/ap/20081021/ap_on_hi_te/earns_yahoo

    SAN FRANCISCO - Mired in a deep slump, Yahoo Inc. will fire at least 1,500 workers to cope with a crumbling economy that dented its third-quarter profit and turned up the heat on the Internet company's management as investors stew over a missed opportunity to sell to Microsoft Corp. for $47.5 billion.

    The purge outlined Tuesday represents a 10 percent reduction in Yahoo's payroll of about 15,000 employees. It's the second time in nine months that Yahoo has resorted to mass layoffs in what so far has been an ineffectual effort to rebound from a financial funk that has left its stock price near a 5 1/2-year low.

    Things got worse in the third quarter as Yahoo earned $54.3 million, or 4 cents per share. That was a plunge of 64 percent from $151.3 million, or 11 cents per share, at the same time last year.
     
    internetmarketingiq, Oct 21, 2008 IP
  2. mdvaldosta

    mdvaldosta Peon

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    #2
    They've got to trim the fat, no doubt. It's a smart move that'll likely help stock prices (which are down more than 50% in the last couple months alone).
     
    mdvaldosta, Oct 21, 2008 IP
  3. snowbird

    snowbird Notable Member

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    #3
    Many companies will be downsizing. The economy is in the toilet, and I am just waiting for Bush to flush it...

    But Yahoo holds some blame as well. The bait and switch crap they did with domain names made me spend my money elsewhere. Got some first year domains for $1.99 with a renewal promise of $13.99. Then right before I go to renew, Yahoo jacks the price up to $35 a year. It's BS because Yahoo does not give the option to renew early - not even one day early. As far as I am concerned Yahoo got greedy and lost some customers as a result. And not just domain customers either...
     
    snowbird, Oct 21, 2008 IP
  4. SEOibiza

    SEOibiza Peon

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    #4
    and dont even get me started on how sh*t their PPC offering was..
     
    SEOibiza, Oct 21, 2008 IP
  5. axa

    axa Active Member

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    #5
    they deserve to get it, there was nothing new & no significant innovation in yahoo company products. they should fire their R&D and Marketing CEO..
     
    axa, Oct 21, 2008 IP
  6. Badlands07

    Badlands07 Well-Known Member

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    #6
    These layoffs are only a part of what is going on. Searchme is also laying off 20% of its staff and Wiki Search is laying off also - getting kind of crazy in the search space.
     
    Badlands07, Oct 21, 2008 IP
  7. jb=]

    jb=] Peon

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    #7
    Its weird, at the same time Google is doing fine.. Hate this recession..
     
    jb=], Oct 21, 2008 IP
  8. srinivaskatam

    srinivaskatam Active Member

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    #8
    Yahoo Layoffs For Real—But What’s the Real Number?
     
    srinivaskatam, Oct 21, 2008 IP
  9. damnidunno

    damnidunno Well-Known Member

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    #9
    they need to lay off everyone who works on their messenger, cuzz the dang thing barely ever works.
     
    damnidunno, Oct 21, 2008 IP
  10. Chancey

    Chancey Well-Known Member

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    #10
    I think that some of their employees need to be layoff because they have too much employee that has the same job.
     
    Chancey, Oct 21, 2008 IP