Yahoo Layoffs Begin; Media Group Numbers
From our sources within the company: The expected layoffs have started at Yahoo (NSDQ: YHOO), with as many as 100 expected from the Media Group, including those based in the Santa Monica offices, and elsewhere. We’re in the process of confirming names. According to someone mid-level who has been laid off: “It is like a morgue in here.” By the way, the technical term is RIF, as in Reduction in Force; CEO Jerry Yang called it a “strategic workforce realignment” during the earnings call late last month.
Staci adds: This is how fluid the information is ... I’m told now the number for the Media Group will be about 50. That’s lower than it probably would have been had other actions like the dismantling of the Brand Universe group (some reassigned, some laid off) not already been taken in the last few months.
Among those affected: our friend Susan Mernit, senior director, product, Personals, and Patrick Houston, VP- Content & Programming, Lifestyles. We’ll add to this list as we confirm.
More to come.
Posted In: Industry Moves, Companies, Yahoo
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Comments (3)
Feb 13, 2008 3:35 AM
People blame recession in US markets for this If thats the case why is the revenues of yahoo’s direct competitor Google growing exponentially :)
Feb 13, 2008 1:21 PM
Nobody’s blaming recession for this. Yahoo made $2B in operating profit last year. The layoffs are strategic since revenues have been growing slower than headcount.
Mar 13, 2009 11:33 AM
Yeah but still, why is Google growing so significantly when Yahoo who is making the crucial decision to layoff?cut so many of it"s workers?