Let’s Open This Up for Questions. Yes, You, the Man in Black With the Large Scythe …
by John Paczkowski
Posted on January 22, 2008 at 12:01 AM PT
We need to invest in areas that are most critical to our success and de-emphasize those that are underperforming or don’t match up with our priorities. There will be no sacred cows.”
When all is said and done, Yahoo CEO Jerry Yang’s abattoir may prove more proficient at slaughtering careers than sacred cows. The company is reportedly planning to lay off hundreds of employees in an effort to rein in its budget and revive its flagging fortunes.
The job cuts are expected to number around 500, out of 14,000 employees globally, though initial reports from more … irrationally exhuberant sources … pegged them at five times that.
Yahoo has so far declined to comment specifically on reports of looming layoffs, though the tenor of a statement the company released yesterday certainly suggests dark days ahead for at least a few employees. “Yahoo has embarked on a multiyear transformation that includes making tough decisions about the business to help the company grow,” a company spokeswoman said in a statement. “Yahoo plans to invest in some areas, reduce emphasis in others and eliminate some areas of the business that don’t support the company’s priorities. Yahoo continues to attract and hire talent against the company’s key initiatives to create long-term stockholder value.”
If they are indeed to occur, layoffs will likely be announced during the company’s fourth-quarter financial report on Jan. 29, which should make for an eventful earnings call.
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