Yahoo Plans Major Layoffs & Cost Cuts

Oct 20, 2008 at 10:03am ET by Barry Schwartz

TechCrunch reports Yahoo is planning of laying off between 1,000 and 3,000 employees. Yahoo Plans Major Cost Cuts, Including Layoffs from the Wall Street Journal expect the cuts to start as early as tomorrow.

The cuts come after Yahoo hired consulting firm Bain & Co. to cut costs and improve efficiencies.

Yahoo has been struggling for a long time now. From Terry Semel, Yahoo’s ex-CEO, to Jerry Yang, to the Microsoft discussions and AOL rumors – Yahoo’s stock price has been hurting. Now, in these recessionary times, Yahoo hopes to turn things around with cost cuts and efficiencies improvements.

For more on Yahoo’s financial past, see our Yahoo Business Issues category and make sure to check out the other coverage on this news at Techmeme.

Barry Schwartz is Search Engine Land's News Editor and owns RustyBrick, a NY based web consulting firm. He also runs Search Engine Roundtable, a popular search blog on very advanced SEM topics. Barry's personal blog is named Cartoon Barry and he can be followed on Twitter here.

See more articles by Barry Schwartz >

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