Yahoo suffers layoffs* as Google gains in search
ADOTAS — During normal tough times, the prevailing thought is that you should do all layoffs in one fell swoop. Bleeding here and there is devastasting to morale. But these are no normal tough times, look at Yahoo.
Depite firing or not replacing some 2,400 last year, the company is expected to fire hundreds, according to the New York Times. *Kara Swisher says it could be more than 500 and include managers. It will be the first round of personnel cuts for CEO Carol Bartz who came on in January. Yahoo will be reporting its first quarter earnings next week, when the cost tightening moves, favored by analysts, could be announced.
Yahoo’s slow growth amid the recession has prompted a few cuts over the last two years, with the company now having more than 13,000 employees. The company said last year that it still might have to make more cuts in the future and its core business, display advertising, hasn’t helped. Display has been the hardest hit as advertisers trimmed their budgets, and more moved to search, which helps competitor Google.
While there has been growing speculation that Yahoo and Microsoft will partner with Yahoo covering display and Microsoft dealing with search. But as the latest comscore numbers show, there were 9.125 billion searches done on Google last month, up 11 percent from February, which resulted in Google gaining half a percentage point in market share to 63.7 percent.
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Reader Comments.
Ha Ha, If you have Yahoo stock, sell it now! If Microsoft is smart, it should let Yahoo go broke and buy it out at discount when they file chapter 11.
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