Feeds

Yahoo! waves goodbye to 1,500 workers

'Layoffs unfortunately unavoidable', says Yang

Intelligent flash storage arrays

Yahoo! began laying off more than 1,500 employees yesterday as part of the struggling company’s latest painful round of job cuts.

The internet giant has swung the job axe across all departments at Yahoo!, with human resources and finance workers reportedly expected to take the biggest hit.

Lame duck CEO Jerry Yang told Yahoo! workers that the firm “must take actions to better perform in today's turbulent global economy. While we've found efficiencies in many parts of our business, laying off employees is unfortunately unavoidable.”

He added that the decision to axe jobs had been a “difficult” one, but said it meant Yahoo! could “better align costs with revenues”.

Yang, who resigned from the CEO post last month, said during the company's Q3 earnings call in October that Yahoo! would jettison at least ten per cent of its workforce by the end of the year, affecting about 1,500 positions.

In related news, hedge fund Ivory Investment Management (IIM) has urged the Yahoo! board to salvage a search business deal with Microsoft, reports the Wall Street Journal.

IIM owns a 1.5 per cent stake in the internet firm. The shareholder said in a letter to Yahoo! management that selling the company’s search biz to MS could lead to a deal worth twice as much as Yahoo!’s current stock price.

Yahoo! shares closed at $13.4 on Nasdaq yesterday. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
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.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.