Yahoo is an American public corporation headquartered in Sunnyval, Californiathat provides Internet services worldwide. The company is perhaps best known for its web portal, search engine, Yahoo! Directory, Yahoo! Mail, news, and social media websites and services. Yahoo! was founded by Jerry Yag and David Filo in January 1994.
According to Web traffic analysis companies (including Compete.com, ComScore, Alexa Internet, Netcraft, and Nielsen Ratings), the domain “yahoo.com” attracted at least 1.575 billion visitors annually by 2008.
The global network of Yahoo! websites receives 3.4 billion page views per day on average as of October 2007. It is the second most visited website in the US and in the world
Recently Yahoo has been cutting the fat of its employee base, becoming the first since Yahoo appointed Carol Bartz, former executive chairman of Autodesk, as its new chief executive officer and a member of the board of directors.
Much of the media related with yahoo and its advertisers, will also take a large hit. Also with its slow recovery to the layoffs, Yahoo has lost many battles for prominent and successful sites like YouTube and Facebook.
The layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports first-quarter financial results, says an anonymous group in the yahoo field.
The cuts would be the third round of layoffs at Yahoo in little more than a year. The Internet Company, which has been struggling for more than two years, laid off about 1,000 workers early in 2008. It cut 1,400 or so in the fourth quarter of last year, in continuing efforts to prune its sprawling online business and bring down expenses. It ended the year with 13,600 employees.
Under Ms. Bartz, Yahoo has also been trying to sell some business units that it doesn’t consider core to its mission, including Hotjobs, the online recruiting service, according to several people familiar with the plans.
Ms. Bartz has been reviewing Yahoo’s businesses. In recent weeks, she renewed discussions with Microsoft, which attempted to buy Yahoo early last year, and later tried to acquire the company’s search business.
The new round of talk centers on a possible advertising partnership, whether than a more reasonable, acquisition or a sale of Yahoo’s search business.
Subscribe to:
Post Comments (Atom)
Well, here's another story about layoffs, except this time it isn't another newspaper going down. I was beginning to think that the Internet was somewhat immune to the employment cuts, but apparently not. Ms. Bartz has her work cut out for her with all the competition out there. I just hate to see more people out of work--the economy needs consumers, not people on unemployment. I wonder if all these new, streamlined businesses will have anyone to buy their services in the near future.
ReplyDeleteI don't think any business is really immune to employee cuts. Especially a corportion like Yahoo! I mean the economy is a in a not so good position but, on top of that yahoo hasmany other search engines that it forced to compete with. Google is probably going strong, dogpile is most likely doing worse than Yahoo. But, either way I wasnt surprised to hear this.
ReplyDeleteWell, I guess Yahoo has finally joined the ranks of just about every other company I know, layoff here, layoff there.
ReplyDeleteThe store I work at has just been cutting hours, but they haven't had to let anyone go.
I think retail is the best bet for anyone right now.
I hope that our economy gets back up, but then again, it's not 2012 yet.
I honestly thought the whole recession crisis was getting better but I guess I was wrong, I wish that these companies would realize that these people have families to feed and lifes to live. I hope that these people find jobs very soon before things get any worse. I work at CitiBank and I know how it is to feel like you may not have a job next week, I wish them the best.
ReplyDelete