Yahoo Axes 1000 Jobs
Yahoo Axes 1000 Jobs
by , 8:45 AM EST, January 30th, 2008
Internet giant Yahoo plans to cut 1,000 jobs by mid February following a substantial drop in its fourth quarter earnings. The company hopes the cuts will reduce losses while it focuses on growing specific parts of its business, according to The New York Times.
Yahoo reported a 23 percent drop in earnings compared to the same quarter a year ago from US$269 million down to $206 million.
The company plans to focus on its advertising technology, and parts of its Internet portal including the front page, search services, email, personalized home page features, and news, finance and sports.
Investors hoping to see a quick turn around in the company, however, are likely to be disappointed. Yahoo CEO Jerry Yang warned investors of "head winds" in 2008, and that revenue growth would likely fall at the low end of, or below, analyst expectations.
Recent TMO Headlines - Updated June 29th
- Tue, 4:11 PM
- Apple TV+ Signs First-Look Deal with Maya Rudolph's Animal Pictures Following 'Loot' Premiere
- Tue, 3:31 PM
- Tales From the Rumor Mill: What's Next for Apple TV Including New Chip, RAM, Siri Remote and More
- Tue, 3:28 PM
- Apple Watch ECG Technology Infringes on AliveCor’s Patents, ITC Rules
- Tue, 1:51 PM
- Russia Fines Big Tech Companies Over User Data and Apple May Be Next
- Tue, 12:38 PM
- Foxconn Offers Summer Employee Bonus to Increase iPhone 14 Production
- Tue, 8:47 AM
- Rumored iPad mini 7 With 120Hz ProMotion Display Unlikely
- Tue, 7:37 AM
- Apple Creative Projects Showcases Artist Quentin Jones Creating Mantra Collages on iPad
- Tue, 7:32 AM
- Apple Shuts Down Hermit Spyware Distributed as Fake Enterprise App on iOS Devices
- Mon, 4:18 PM
- How Apple Watch Mirroring Works on iOS 16
- Mon, 3:33 PM
- Apple Suppliers Begin Shipping iPhone 14 Components
- Mon, 3:29 PM
- Tesla CarPlay Workaround Update Now Offers Support for All Tesla Models
- Mon, 2:39 PM
- Trailer for Apple TV+ San Fransisco-Thriller 'Surface' Goes Live
