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Jan30
Yahoo! Will Layoff 1000 Employees in February Following Massive Fourth Quarter Losses

Earlier this month at the Consumer Electronics Show (CES) Yahoo! (NASDAQ:YHOO) CEO Jerry Yang declared it high time Yahoo! reclaimed their joyful yodel. It now appears 1,000 of corporations the 14,300 employees will be grumbling instead of yodelingPink%20slips.jpg.

A loss of 23% during the fourth quarter prompted the massive layoffs. Besides the obvious reasons – we all know Google (NASDAQ:GOOG) whooping Yahoo butt – peer network sites like Facebook have also chipped away at a considerable portion of the Yahoo! customer base.

Although economic growth has slowed to a crawl and downsizing was expected, analysts were surprised by the number of projected job cuts.


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» Know More Media Review: Layoffs, Takeovers, Super Bowl and a Day to Wear Red from Know More Media
Another week chock full of hot news buzzing across the network. From the Yahoo layoffs and possible takeover; to “heartache leave” and National Wear Red day, Know More Media authors had plenty to say. For starters, today is National... [Read More]

This certainly doesn't bode well for Yahoo's shareholders. With the possibility of a hostile bid after Yahoo's rejection of Microsoft's $31/share offer to take it over, this will make it difficult for the management to convince shareholders that sticking it out with the current management is a good idea.

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« Japanese Company Offers Employees 'Heartache Leave' | Main | February is American Heart Month: February 1st Wear Red For Women »

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