Yahoo to Cut Jobs?
Posted on January 20, 2008
Silicon Alley Insider is reporting that Yahoo may be on the verge of cutting 1,500 to 2,500 jobs.
A tipster believes Yahoo has created a list of 1,500-2,500 jobs that may be eliminated in the next two weeks. CEO Jerry Yang will reportedly make the decision to go forward with these layoffs--or not--next week. Jerry reportedly wants to announce the cuts with or before earnings (January 29th), but may not make them if the stock price recovers.Yahoo has been one of the companies acquiring social media websites over the past few years including Del.icio.us, Flickr and MyBlogLog. If the economy continues to tank this year then there will likely be many more layoffs at various tech companies to come this year. Those who saw the fallout after 2000 have been through this before. The companies with the highest burn rates are often the first to cut jobs.