Yahoo started out the year with layoffs, and it is going to end the year with more. The layoffs have been expected ever since Yahoo hired hatchet men from Bain & Co. to come help with the downsizing. The exact number of layoffs is still not known—between 1,000 and 3,000 are the numbers being discussed. During its earnings conference call on Tuesday, Yahoo is expected to announce how many people it will let go. In addition, operating budgets across the board are expected to be cut 15 percent.
In January, Yahoo laid off 1,000 people, and all year it has been suffering from a major drain of talent. But it still has plenty of employees—about 14,000. Getting rid of another 10 percent or so would have a meaningful financial impact by lowering expenses, but it would also lower morale.
Not that Jerry Yang has much choice these days. We’ll update the layoff tracker when the final numbers are known.
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Ouch… layoff week at techcrunch continues :/
Peter
http://www.thewebwar.com
Oh no…
da mnnnnnnnnnnnnnnnnnnn thats is alot of folks losing their job i’ll be sure to keep my eye on cnn if someone freaks out after hearing bad news
iwa s goin to join yahoo 2 month ago, damn i did not.. good packages there i think
This was expected for some time now. I do hope that the earnings call will have insightful thoughts on how their business(es) will be affected by the economic situation and what specific plans they have for 1) riding it out and 2) increasing shareholder value. There has been so much “shifting” going on, that I feel the transitions are not only affecting morale, but also makes it very difficult to maintain productivity levels. Every new position change can almost be like another clean slate.
while this downsizing continues, are salaries going downwards too and by how much?
Would it be easier for us to hire services sales & marketing guy cheap and easily ?
http://www.confiz.com
your offshore development partner
It is very sad for yahoo! I hope they actually don’t lay off based on analysis by some WSJ analyst - instead keep their eye on the revenue and potential opportunity.
I guess I’ll listen to the earnings call for once. Can they just get this over with already? I want to get on with my life, with or without unemployment.
I believe Yahoo! has gotten to a stage where its too big for its own good. Look at their corporate profile, aside from listings and a few media sites, their online strategy is a mess. I love Yahoo! and have been an ardent supporter but what is important right now is for Yahoo! to get its act together and focus on the business units that generate real cash.
But hey, this is probably good news for the Bay Area Startup community. This means there’ll be quite a few talented individuals right now that are free to realize those ideas that they have put on the backburner. Am actually very excited to see what kind of startups this fallout will produce. Like in a forest, you need the big trees to fall before young saplings can take root and grow.
I am also interested in how this will affect the startup community. All I have been hearing lately is how our recent economic fiasco is going to be a positive factor in a new e-commerce boom. Who knows…
In case you didn’t notice, true earlier stage startups are already seeing layoffs. This at the advice of the VC community, if not for other reasons.
its sad.
Is Yahoo done?
Economy crisis is effecting everyone, everyone is losing jobs, stock down, gold prices down - http://www.amitbhawani.com/blo.....nomy-tips/ wondering whats next!
Discuss layoffs and pink slip’s at http://www.PinkSlipping.com, a forum totally dedicated to such discussions. We have some topics and posts that you may have answers to. Help people understand why layoffs happen and much more at http://www.PinkSlipping.com
Only workaround is selling itself to Microsoft. Each day it loses talents and more market share, the less it worths for Microsoft!
OMG!
jerry first!
Think those Yahoo people will get the same cushy severance plan they would have received if MSFT bought them? Let’s see Yang et al do the right thing since they’re the ones who blew it.
4-24 months salary, equity acceleration, health care, etc.
http://www.sec.gov/Archives/ed.....28e8vk.htm
you wish.
this time i wonder if there’s a package at all. i can’t stand blake’s dry humor.
More details and info on the Yahoo Layoff’s here;
http://www.fuckedstartups.com
Further details on other startups as well..
I miss the locator guy. bring him back.
thanks man
yes its true locator dude has been experiencing “tc”-nical difficulties. whether accidental or on purpose i dont know. It is no secret that i have never been welcome here with open arms. i came to tc with a open agenda only to be vehemently pummeled or completely ignored by people considered leaders of the startup “community”.
I have learned and matured alot here. The tale of my tape has been written in the digital doctrine we call backtype.com. now there is an awesome site i would not have known about if it wasnt for tc. i would not be here writing if it was not for a “locator” alert from backtype.com.
they say when we cannot ask our leaders a question we are in a world of shit. why has locator dude not been able to be profiled on TC? They talk about everything under the sun. What amazes me is how a startup with such unique potential cannot be worthy of a article or even an honorable mention from the leaders of startups. You can be the biggest potential game changer on the planet and nobody can see it.
Click link to watch a interesting video from mcneally of sun micro.
http://professionallocator.nin.....deo%3A4221
My bottomline is ___________ “I KNOW IM RIGHT” , Do You?
MyLocator.com - Search Solved.
This is only the start, unemployment may hit 9 to 10% nationally when all is said and done.
Damn… I had an offer on the table from Yahoo, I wasn’t going to take it, but it was withdrawn… now I see why.
It will be great for the company as long as they layoff the right people. Yahoo! has a history of leaving ineffective middle management in place (supporting managers with no or VERY few direct reports). Yahoo!s politically dense culture ensures that the rats stick together. This means the people best suited to fix the leaks of the ship are cast over board so the rats can live another day before ultimate death by drowning. It will be interesting to see Yahoo! screw this up. They have neither the commitment to the company’s success or the aptitude to do the right and obvious thing.
Downsizing and the associated layoffs is extremely painful for families. Losing a job should encourage people to review their careers and alternatives to the current situation. Remove YOUR future and security from OTHER’S hands. Consider other possibilities. http://www.LikeSoup.com
Is that the reason why Yahoo database engineer Jeremy Zawodny join Craiglist last July?
@George: is it really true, I mean 9 to 10 % unemployment, where did you get that figure?
Wishes!
HumanGod
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Visit PinkSlipping.com to discuss layoffs, pink slips and all other related topics.
@Music: I think that is a whole different reason as to why he left yahoo. When a layoff is impending, nobody except the top management would know.
Wishes!
HumanGod
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http://www.PinkSlipping.com, Discuss layoffs, pink slips & other related topics.