7 percent reduction following profit decline
Last modified on Wednesday, 30 January 2008 11:58
Yahoo! Inc. will reduce its workforce by 7 percent, laying off over 1,000 workers due to a 23 percent decline in its fourth quarter profits, according to a conference call held earlier Tuesday. Yahoo! Founder, Jerry Yang, indicated that the reductions were necessary.
This will be the biggest layoff in Yahoo! history since they gave over 650 workers their walking papers during the dot com bust several years back. Yahoo! didn’t indicate which areas the staff reductions would come from, but said that more details would follow in the mid-February time frame.
Those workers who are losing their jobs will (literally) not be saying Yahoo!