Legit Reviews

Legit News

Hundreds of layoffs planned at Yahoo

Since YAHOO's co-founder Jerry Yang has stepped up and replaced Terry Semel as CEO, he has had to deal with tougher competition and pressure from Shareholders and Wall Street to shed as much as 25% of its work force. With layoffs and efforts toward pleasing regular users, Internet publishers, advertisers and developers some analysts say it may not be enough to fend off the competition!

Yahoo is planning to lay off hundreds of people as part of an effort to refocus its sprawling Internet services to compete with rivals like Google and Facebook, according to a source close to the company. It's unclear whether the cuts will be deep enough to satisfy Wall Street, which has been urging the Internet company to shed as much as 25 percent of its workforce of about 14,000. More than half of those employees are based outside of the Sunnyvale headquarters.

SiliconValley.com

Posted by | Tue, Jan 22, 2008 - 02:58 AM