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Jobs

Yahoo! Layoffs Coming (YHOO, GOOG, MSFT)

Photo of Paul Ausick
By Paul Ausick Published

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A report at The Wall Street Journal’s All Things Digital blog, cites several sources confirming that Yahoo! Inc. (NASDAQ: YHOO) will begin firing workers next week. The company employs about 14,000 people, and the layoffs could affect thousands of employees, not counting contract employees of which Yahoo has many and who are almost always the first to go when layoffs start.

New Yahoo CEO Scott Thompson has been discussing with both Google Inc. (NASDAQ: GOOG) and Microsoft Corp. (NASDAQ: MSFT) the sale of Yahoo’s advertising technology and perhaps even its search business to either company. Those two areas of the company employ about 2,500 people.

Thompson is also discussing a re-organization of the company into two divisions: a global media group comprising the communications and search businesses; and a global sales group. A relatively small R&D group may also survive.

Contact [email protected] for any questions or corrections.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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