Yahoo to Shit-can Hundreds of Workers

[mandy]

Yahoo is planning to lay off hundreds -- perhaps thousands -- of workers, according to published reports. The shakeout could be the largest number of workers the search engine has cut loose since 2001, when the company attempted to recover from the dot-com bust. Yahoo has attempted a change in management recently in its battle to catch up with search leader Google...

full article: http://ecommercetimes.com/story/Reports-...61314.html

[mandy]

Update: 1,000 job cuts announced

In the wake of a fourth-quarter report that showed a drop in profits and an outlook that disappointed investors, Yahoo said Tuesday it will cut 1,000 workers from its payroll as CEO Jerry Yang attempts to reinvigorate the portal he cofounded.

Yahoo's fourth quarter profit of US$205.7 million, or 15 cents per share, handily beat Wall Street expectations of 11 cents, but revenue was $1.8 billion, in line with analyst forecasts. Net income was down 23 percent from the year before, while revenue rose 8 percent.

As with other high-tech companies -- including Apple and eBay-- Yahoo was done in by its outlook, which fell below analyst expectations. Yang, who took over as CEO at Yahoo midway through 2007, pulled no punches, saying plenty of challenges remain ahead as the company tries to compete for online marketing dollars with Google...

full article: http://ecommercetimes.com/story/Yahoos-Y...61444.html