Yahoo Braces For Downturn

October 22nd, 2008

I was totally shocked when I read this article.

Yahoo Inc.’s leaders still have jobs despite investor misgivings about their decision making, but at least 1,500 workers will be shown the door after the slumping Internet company’s profits tumbled yet again in the third quarter.

The 10 percent reduction in Yahoo’s payroll of 15,000 employees served as another stark reminder of the challenges facing a management team led by Jerry Yang as the deteriorating economy casts even more doubts about the Sunnyvale-based company’s turnaround plans.

Yahoo had a turnaround plan? Really? When were they going to start the turnaround? Color me shocked. I bet those people wont get gift baskets either.

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