Thread: Reports: Yahoo! Inc. to Lay Off Hundreds

Reports: Yahoo! Inc. to Lay Off Hundreds
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Jan 22, 7:10 AM (ET)

SUNNYVALE, Calif. (AP) - Battered by slow revenue growth and the popularity of social networking Web sites, Yahoo! Inc. is poised to lay off hundreds of workers, according to published reports.

The New York Times and The Wall Street Journal have both reported on the slumping Internet icon's cost-cutting plans, citing people familiar with the matter.

Precisely how many of Yahoo's roughly 14,000 employees will lose their jobs hasn't been determined, the newspapers said. A final decision could be announced Jan. 29 when Yahoo executives are scheduled to review the Sunnyvale-based company's fourth-quarter results.

If several hundred employees are dumped, it will mark Yahoo's most extensive layoffs since 2001 when the company was trying to battle back from the dot-com bust.

The payroll purge was first reported over the weekend by Silicon Alley Insider, a blog focused on investments in technology and media. The blog said Yahoo had drawn up a list of 1,500 to 2,500 jobs that could be eliminated, but Monday's reports indicated management doesn't expect the cuts to be that deep.

A Yahoo spokeswoman didn't immediately return calls seeking comment.

It won't come as a surprise if Yahoo jettisons workers, said Global Equities Research analyst Trip Chowdhry. He believes Yahoo has room to trim its work force by about 5 percent, or 700 employees, after phasing out some of its services, such as auctions and photos, during the past year.

Besides falling further behind Silicon Valley rival Google Inc. (GOOG) in the lucrative Internet search and advertising market, Yahoo also has been struggling to hold on to younger Web surfers as they spend more time on hip online hangouts like Facebook.com and MySpace.com.

The problems have slowed Yahoo's revenue growth even as spending on online ads accelerates. That trend has devastated Yahoo's stock, which has plunged by nearly 50 percent since the end of 2005. Yahoo shares finished last week at $20.78.

With shareholders clamoring for a shake-up, Yahoo co-founder Jerry Yang took over as the company's chief executive last June, replacing former movie studio mogul Terry Semel.

Yang has promised to re-establish Yahoo's position as the Web's most popular "starting point" while building a compelling ad network, but his progress hasn't impressed investors so far. Since Yang became CEO, Yahoo's stock price has declined by 25 percent while Google shares have surged by more than 15 percent.

Earlier this month, Yahoo opened its mobile platform so outside programmers can develop new applications for Yahoo pages accessed on mobile handsets. Yahoo hopes the mini-applications will bring the company more money from advertising.

The company also unveiled a redesigned home page for mobile phones that includes more content and enables visitors to designate material they want highlighted.

http://apnews.excite.com/article/200801 ... TROG0.html

Now is when you will see things happen. Those getting layed off are going to be out looking for jobs that americans won't do if you know what I mean. My son was layed off this morning.

Read yesterday that Spring/Nextel is also laying off 20000 workers!
Buckle your seat belts everybody...it's going to be a rough ride!
http://www.usatoday.com/money/indust...4-sprint_x.htm

Maybe yahoo should hire all the illegals, afterall, they work for slave wages.

Oh wait, what am I talking about. Illegals are illiterate! Ok, my bad.

Yes, mass layoffs are rolling now and AT THE SAME TIME CompeteAmerica and other bad guys are getting ready to push for a massive increase in the guestworker visa caps. They want to push for an H-1B number so high that for all practical purposes it will be infinite. They plan to attach this to some unrelated 'gotta pass' legislative bill. And, over on the pro-H-1B web site they are arguing that a good solution for America's pending recession is to give more high-skill jobs - to THEM. They are pushing for legislative relief that would give them the same access to our job market that we have regardless of nationality and border once they come in on an H-1B or L-1 visa, and they want more visas issued TOO. And, over in Asia, the local companies are arguing that it will benefit us and them to have MORE offshore outsourcing in the recession so that the companies can save money and survive (the companies survive, not the American worker, you understand).

Maybe all of these layoffs will wake Americans up to what outsourcing is doing ot our country and the importance of BUYING AMERICAN....

Buying American has become a joke...letz do a quick poll of how many of u drive japanese cars. "Buying American" somehow seems to be restricted to only groceries and small ticket items.

sell ur japanese made cars buy GM buy Ford. These are American icons.

I hope when all these people try to get another job, here in the valley, they will get angry enough to speak out about the jobs Americans won't do. They will be competing in the same H1B flooded market I am and find the same disappointment I am. On the other hand - will some of the laid off employees be H1Bs themselves? One can only hope - but probably not, since it would be more "inhumane" than laying off an American worker who won't be forced to leave the country.

This just in from the Washington Post. The unemployed persons in the article aren't good examples, but I think those facing massive layoffs should understand what they are up against.

http://www.washingtonpost.com/wp-dyn/co ... 02368.html

Originally Posted by bluecollar

Buying American has become a joke...letz do a quick poll of how many of u drive japanese cars. "Buying American" somehow seems to be restricted to only groceries and small ticket items.

sell ur japanese made cars buy GM buy Ford. These are American icons.

Guilty.