Feeds

Yahoo! to! shed! 400! jobs!

More casualties of the dotcom downturn

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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

New hybrid storage solutions

More from The Register

next story
Quit drooling, fanbois - haven't you SEEN what the iPhone 6 costs?
How keen will buyers be when exposed to the real price?
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Ex-Autonomy execs: HP's latest wad blows apart fraud allegations
Top bods claim IT titan's latest court filing is smoking gun of 'reckless aggression'
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Elon Musk says Tesla's stock price is too high ... welp, NOT ANY MORE
As Nevada throws the SpaceX supremo a $1.25bn bone
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
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.
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.