Leave a Comment

One out of 10 Yahoos is a dead man walking
GMSV — ... “), Yahoo announced today that its latest round of cost cutting will include laying off 10 percent of its 14,300 employees, and as feared, it withheld the specifics, at least from the first news release, leaving its workforce to stew in uncertainty as the holidays approach. “The company’s goal is to reduce its current annualized cost run rate of approximately $3.9 billion by more than $400 million before the end of 2008,” Yahoo said in the statement . “The company anticipates that both headcount and non-headcount-related costs will be reduced by these actions. Because the ...

Yahoo misses estimates, profits down
Between the Lines — ... Yahoo’s third quarter earnings weren’t the complete train wreck that was expected as the company met Wall Street estimates and announced a long-awaited layoff. The company plans to lay off 10 percent of its workforce in the fourth quarter. Yahoo ( statement ), reported net income of $54.3 million, or 4 cents per share, on revenue of $1.79 billion. Excluding charges, Yahoo reported earnings of 9 cents a share, a tally that was in line with estimates. Wall Street expected earnings of 9 cents a share on revenue of $1.37 billion. Profits are down from the same quarter a year ago ...

Yahoo Earnings: Worst Fears Not Realized
WebProNews Feed — ... Announces 10 percent staff cut Yahoo did not have a good day on the stock market, closing down 6.14 percent. Yet somewhat surprisingly, it almost looks ready to have a decent tomorrow, following the company's third quarter financial report. The stock's bounced back up 7.13 percent so far in after hours trading. Here's a link to the official release , along withsome live observations and notes from the conference call. Experts had put Yahoo on track to post earnings of nine cents per share. Yahoo hit the EPS on the head. Revenue, however, only increased by one percent since ...

Yahoo to slash jobs, costs as quarterly profit falls
L.A. Times Tech Blog — ... In a statement, Yahoo Chief Executive Jerry Yang said that economic conditions and online advertising had softened during the third quarter. Yahoo now projects that 2008 revenue will be between $7.18 billion and $7.38 billion, down from a forecast, issued three months ago, of $7.35 billion to $7.85 billion. Yang said the company would continue to balance investing in new products with keeping a tight grip on costs. ...

Yahoo to Fire 1,500 Workers
Search Engine Journal — ... Yahoo’s financial report for the Q3 is out and despite reporting a not so bad financial conditions contrary to what was being predicted the past couple of days, the company is still set to ...

Yahoo Profit Falls As 10% Layoffs Loom
InformationWeek - All Stories And Blogs — Yahoo on Tuesday reported a 64% decline in profits and said it planned to lay off at least 10% of its staff -- about 1500 employees -- in the coming months. The company's third quarter revenues came to $1.8 billion, a 1% increase from the same period in 2007. Its net income in the third quarter was $54 million, down from $151 million during the same period last year. "As economic conditions and on-line advertising softened in the third quarter, we remained highly focused on our 2008 strategy to invest in initiatives that enhance not only our long term competitiveness, but ...

Yahoo Planning To Cut 10% of Jobs on Profits Loss
Profy — ... of the 4th quarter announced today, Yahoo has also announced results of its 3rd quarter - and these results are far from impressive with net revenue dropping by 64%. ...