TechCrunch reports that Yahoo! may cut 10-20% of its 12,000 staff which translates between 1,200 to 2,400 employees.
..the move is about improving the outlook for Yahoo and strengthening its position so it can remain a standalone company by increasing the share price.
In many occasions reducing workforce means operating a leaner team as opposed to “strengthening the position”. By removing redundancies, there exists remaining workers who are expected to take more work as opposed to “streamlining of operations”. It’s a sad reality corporate slaves must accept.
I met a few people from Yahoo! HK who are part of the backend team and paid search team. I hope they won’t be affected.
January 22nd, 2008 at 11:38 am
It’s a shame Terry Semel couldn’t just give back some of the millions he obviously didn’t deserve instead of Yahoo firing its workers now. Seems some of that company’s biggest problems lie in an inability to support it’s customer base or properly manage too many assets. Having 20% less bodies to accomplish this certainly won’t help. Especially considering the lack of motivation the average Yahoo employee is going to posses after even more work is lumped on them, while their higher ups still make millions for doing nothing. Thanks to option shenanigans, that’s true whether the stock holders are losing money as usual too. It’s win-win for those at the top of Yahoo’s pyramid of power and gross mismanagement complex. Maybe all those employees should take their severances and invest them in buying back the company once the stock is abundantly cheap and plentiful soon. They are the only ones that truly seem to care about the company anyway. The execs just to be milking it until it’s possibly sold later this year.