Yahoo to announce layoffs
Written by admin on Monday, October 20th, 2008 in gadgets and technologies.
![]()
Sources have revealed to the Wall Street Journal that Yahoo! will announce layoffs when they reveal their quarterly earnings tomorrow. The exact number of jobs affected isn’t know but is estimated to be at least 1,000. The move isn’t much of a surprise, however. Last month they hired a consulting firm to help them streamline their operations. The company, which once boasted the top search engine on the net, has been struggling as of late. Its shares have fallen 32% over the past month, its deal with Google was put on hold due to an FTC investigation, and earlier this year they rejected a takeover bid by Microsoft. Shares entered the week at $12.90 after hitting a 5-year low of $11.37 last week. Microsoft takeover bid was for $33 a share. (Read the full post about ‘Yahoo to announce layoffs’…)
