Feeds

Yahoo! to! shed! 400! jobs!

More casualties of the dotcom downturn

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

Yahoo! is to axe 400 jobs. Most of the losses will come from its international and broadcast operations. According to Reuters some middle management positions are also likely to be shed.

But Yahoo! also says that it will recruit in some growth areas, resulting in a net loss of around 300 jobs - or around ten per cent of its total workforce.

At this stage it's not known if any of the job cuts will be at Yahoo! UK or Yahoo! Europe.

This is the second set if job losses this year at Yahoo!. In April, the company announced its plans to shed some 400 staff.

Speaking to analysts yesterday chief exec, Terry Semel, said that he intended to reduce Yahoo!'s reliance on advertising revenue from 76 per cent this year, to around 50 or 60 per cent by 2004.

Like many dotcoms that rely heavily on advertising Yahoo! has suffered from the decline in online advertising.

The challenge that lies ahead now is how to make cash from Yahoo!'s 210 million regular users who are used to using its search directory, news service, email etc for free. Getting enough of them to part with their cash might not be an easy task.

Yahoo! also reaffirmed that it expects revenues for Q4 2001 to be between $160 million and $180 million. It expects pro forma earnings before interest, depreciation and amortisation (EBITDA) to range from between a $5 million loss to a $10 million profit.

It expects full year revenues for 2001 to be in the region of $688 million to $708 million, with pro forma EBITDA of between $10 million to $25 million.

Looking ahead, Yahoo! expects revenues for the full year 2002 to increase to between $725 million and $785 million, with pro forma EBITDA of between $35 to $75 million. ®

Related Story

Yahoo! to cut 12% of staff, reports Q1 profit slide

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.