Feeds

Yahoo! to! shed! 400! jobs!

More casualties of the dotcom downturn

  • alert
  • submit to reddit

Reducing security risks from open source software

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

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.