Quantcast

Don't have an account? Register Now! Forgot password?

Related Articles
News

Yahoo Hands Pink Slips to 10% of its Employees to Save $400 Million in Costs

Posted 10/23/08 at 08:32:15 AM  by Pulkit Chandna

comment Commentsprint Printemail EmailDeliciousDiggStumbleUponRedditFacebookSlashdot

The entire text of the email that Yahoo CEO Jerry Yang sent to all Yahoo employees has been leaked. The email was sent after Yahoo announced its Q3 earnings. Jerry Yang began by telling the “Yahoos” that he felt it was important for him to reach out to them after the earnings announcement.

He once again reminded them that it has been a very challenging year for the company. After enumerating few of the things Yahoo is doing to survive in the “turbulent global advertising climate”, he came straight to job cuts.

Yang told all Yahoos that the company has no other choice but to slash jobs – in order to cut costs, as “compensation expenses are the single largest part of its costs.” He then apprised them of the heart-wrenching fact that 10% of them are going to loose their jobs by year-end.

Image Credit: Telegraph

COMMENTS:3
TAGS: Internet, Yahoo, jerry yang, jobs cuts, costs, employees, pink slip, termination
COMMENTS
avatarI don't understand what's

Submitted by sdcat on Thu, 10/23/2008 - 10:33pm

I don't understand what's the big deal? This is over all Econ crisis, just like back than the dot com bubble burst. Pretty much the same situation, yahoo didn't do anything bad. It is still a steady company. It is just the investors got panic.

Yang and his friend started the company walking along with the company's prime, dot com bubble burst low, and now this. Tell the truth I wouldn't worry too much.

Login or register to post comments
avatarSell Yahoo

Submitted by fdwhacker on Thu, 10/23/2008 - 12:09pm

Yahoo should have accepted Microsoft's offer to buy the company when they had the chance. Now there is little reason for Microsoft to buy Yahoo unless they get a really good offer from Yahoo. The people at Yahoo were stupid to refuse the offer.

Login or register to post comments
avatarYahoo!

Submitted by Rltyg on Thu, 10/23/2008 - 10:19am

Should have sold his stock while he had the chance.  Everyone involved with this company is going to go down with the ship.

Login or register to post comments
This Month's Issue
Maximum PC
SUBSCRIBE NOW
AND SAVE!
FEATURE Build a Crazy-Fast $647 PCFEATURE Six Single-Band 802.11n Routers ReviewedHOW TOTweak BitTorrent and FirefoxFEATUREClose Look at ClarkdaleWHITE PAPERLCD Panel Technology