Yahoo: A little bad news
October 21, 2008 · Filed Under Recent News
Yahoo today reported a 64 percent drop in net income for the third quarter (that’s a LOT, boys and girls, almost 3/4 of their net income), issued cautions about a slowly diminishing advertising market, and confirmed that layoffs are definitely on the way.
The company anticipates reducing headcount “by at least 10 percent” by the end of the year, which could mean a lot of jobs lost.
With 14,300 employed at the end of last quarter, that means at least 1,430 are losing their jobs in 2008. And Yang indicated there could be further cuts in 2009 if the market doesn’t get better. Pushing away that Microsoft/Yahoo deal could be something they end up regretting.
More details about this eye-opening development here: Link
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