Yahoo! To Layoff 5000 People?

I think this economic catastrophe will not spare anyone. Even Yahoo! seems to be getting largely affected by this huge wreck, specially in the US economy.

Wall Street Journal is geared up with ample information as far as the cost-cutting measures of Yahoo! are concerned!

"Yahoo Inc. is drafting significant cost-cutting plans to try to reverse its fortunes from the inside.

The Sunnyvale, Calif., Internet company is expected to disclose the cost cuts as soon as Tuesday, when it reports quarterly earnings, say people familiar with the matter. The cuts will involve layoffs, among other things, these people say.

The exact number of jobs to be eliminated remains unclear, though it is expected to exceed the 1,000 jobs that Yahoo announced it was cutting in January, say people familiar with the matter. Precisely which jobs will be excised isn't likely to be announced for at …"

According to Techcrunch, "In January, Yahoo laid off 1,000 people, and all year it has been suffering from a major drain of talent. But it still has plenty of employees—about 14,000. Getting rid of another 10 percent or so would have a meaningful financial impact by lowering expenses, but it would also lower morale."

I think, in this recessionary period, Yahoo is hoping to turn things on its way, with the help of these cost-cutting measures!

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