homepage Welcome to WebmasterWorld Guest from
register, free tools, login, search, pro membership, help, library, announcements, recent posts, open posts,
Become a Pro Member

Home / Forums Index / Yahoo / Yahoo Corporate
Forum Library, Charter, Moderator: open

Yahoo Corporate Forum

Yahoo layoffs underway as investor calls for Microsoft deal

WebmasterWorld Senior Member 10+ Year Member

Msg#: 3804815 posted 2:02 am on Dec 11, 2008 (gmt 0)

SAN FRANCISCO (AFP) Yahoo on Wednesday began dropping the axe on employees, following through on a promise to cut its workforce by at least 10 percent in an effort to right its financially listing ship.

As Yahoo began its second round of layoffs this year, an investment firm, Ivory Investment Management, which owns a 1.5 percent stake in Yahoo, urged the firm's board to sell its Internet search business to software giant Microsoft.

Yahoo announced plans to dump some 1,400 employees after reporting in October that the weak economy had cut deeply into the California Internet pioneer's third-quarter profits.

Layoffs of most US Yahoo workers were happening Wednesday and were already underway in other parts of the world, Yahoo's beleaguered co-founder and outgoing chief executive Jerry Yang wrote in an email to employees.

"This is a tough time for all of us," Yang wrote. "The reductions we're making are very hard, but they are also very necessary as we focus on the long-term health of our business."

AFP.com [news.yahoo.com]


Global Options:
 top home search open messages active posts  

Home / Forums Index / Yahoo / Yahoo Corporate
rss feed

All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Home ¦ Free Tools ¦ Terms of Service ¦ Privacy Policy ¦ Report Problem ¦ About ¦ Library ¦ Newsletter
WebmasterWorld is a Developer Shed Community owned by Jim Boykin.
© Webmaster World 1996-2014 all rights reserved