Investing
Rumor: Yahoo! (YHOO) Will Cut 3,000 Jobs Or $850 Million
Published:
Last Updated:
This should be put in the "rumor" file immediately because it is based on one anonymous source inside Yahoo!.
Yahoo!’s (YHOO) new CEO, Carol Bartz, has told her board that she does not need outside help from consultants to restructure the company. Previous CEO Jerry Yang had brought in Bain.
Bartz’s early look at Yahoo! has made her believe that she needs to make cuts of as many as 3,000 people or $850 million. The company employs about 12,000. Since these numbers are not equivalent, one of them must be incorrect. Bartz will make sharp cuts whether a search deal with Microsoft (MSFT) is completed or not.
The same source also said that Yahoo! premium display advertising is running down 25% from the first quarter of 2008.
None of this has been confirmed by a second party.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
