Yahoo!'s turn to cut jobs?
Nothin' officially announced yet. But a tipster believes Yahoo! is going to cut around 1500-2000 jobs over the next couple of weeks, and that they already have the list prepared. That's how RIFs work. The "list" is reportedly the product of a Q4 project in which all group heads were asked to look at redundancies and create their own lists of potential cuts. All the group-level lists have now been turned in to corporate.
The decision to go ahead with lay-off is said to be largely dependent on stock price: Yahoo's stock trading in the low $20s has gotten Jerry's and president Sue Decker's attention. Jerry will feel vulnerable if the stock goes into the teens and will try whatever he can to prop it up. He's not ready to give up the CEO job, sell-out, or shop the company around at this point. This is a very interesting comment. Is Yahoo! in a position to be considered for buyout? By who? Google? Amazon?
CEO Jerry Yang is also expected to announce Q4 earnings on the 29th of this month. Is he going to club the 2 announcements?
Yahooo has been doing well, and in fact better than Google, in terms of traffic to online properties, says ComScore. But Google surpasses Yahoo! in converting those traffic to profits, and that's what matters. Microsoft is way behind these two companies in the business of online search and advertising and is desperately trying a few acquisition strategies to catch up.
I have quite a few friends from Netzero who joined Yahoo in the recent times. Hope all is good.
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