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
People blame recession in US markets for this If thats the case why is the revenues of yahoo's direct competitor Google growing exponentially :)
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.
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?