Yahoo could cut jobs to cut costs and enhance profitability
Market Rumors, Web Technologies January 22nd, 2008
Yahoo could cut jobs to cut costs and enhance profitability
Internet giant Yahoo is rumored to be considering plans to lay off hundreds of employees.
The aim is to cut costs and enhance profitability. They are practically struggling to compete against Google in the internet search and online advertising market.
An announcement can come before the end of the current month.
Yahoo has not yet confirmed these reports. A company representative had this to say: “Yahoo plans to invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don’t support the company’s priorities. Yahoo continues to attract and hire talent against the company’s key initiatives to create long-term stockholder value.”
The last time Yahoo announced a major job cut was way back in 2001.
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It’s a shame Terry Semel couldn’t just give back some of the millions he obviously didn’t deserve instead of Yahoo firing its workers now. Seems some of that company’s biggest problems lie in an inability to support it’s customer base or properly manage too many assets. Having 20% less bodies to accomplish this certainly won’t help. Especially considering the lack of motivation the average Yahoo employee is going to posses after even more work is lumped on them, while their higher ups still make millions for doing nothing. Thanks to option shenanigans, that’s true whether the stock holders are losing money as usual too. It’s win-win for those at the top of Yahoo’s pyramid of power and gross mismanagement complex. Maybe all those employees should take their severances and invest them in buying back the company once the stock is abundantly cheap and plentiful soon. They are the only ones that truly seem to care about the company anyway. The execs just appear to be milking it until it’s possibly sold later this year.
That’s about 2600 jobs