Yahoo to Layoff Over 1400 Workers In the 4th Quarter Of 2008

Yahoo Inc today announced today that it will be laying off 1400 workers, roughly 10% of its staff in the fourth quarter of this year (2008). This announcement coming alongside its earnings report today, in which the company acknowledged a 64 percent drop in net income for the third quarter and issued cautionary advisory about a weakening advertising sector.This is the second layoff at yahoo in less than a year time frame. In January, yahoo had laid off 1000 of its employees.

Hmmm. I wonder how many of yahoo’s employees are feeling the “Yet Another Hierarchical Officious Oracle” vibe of it’s Founders ?

Photo Credit - yodelanecdotal @ flickr.com

Carl Icahn the aggressive corporate raider has become Carl IQuiet, or at least that is the impression I get from his blog which has no mention of any of this today. It does, however analyze in great details the impact of the Bailout Plan on Executive Pays.

Further Reading

• San Jose Mercury News – Oct 2008 – Yahoo to lay off about 1,400; quarterly sales, profit decline
• MarketWatch – Oct 2008 – Yahoo posts profit decline, to cut thousands of jobs
• CNet.com – Jan 2008 Yahoo to lay off 1,000 as profit drops
• NYTimes – Jan 2008 Hundreds of Layoffs Expected at Yahoo