Yahoo Layoff Rumors Surface
By Arnab Ghosh, Gaea News NetworkFriday, November 12, 2010
SANTA CLARA (GaeaTimes.com)- Internet mail and search service provider Yahoo is going to layoff at least 10 percent of its workforce, suggests the latest buzz in the industry. The reduction in its workforce will reportedly come into effect next month. Blake Irving the Chief Product Officer may supervise the process. Some sources earlier reported that the layoff would cover 20 percent of the Yahoo workforce which the company strongly refuted. It termed the speculation as ” misleading and inaccurate” though admitted that “Yahoo is always evaluating expenses to align with the company’s financial goals.”
The sources also suggest that after the layoffs are done, Yahoo might have to get some of its activities outsourced. The layoff at Yahoo is coming at a time when the rivals are bestowing incentives and pay hikes on their employees. Hence, for the remaining Yahoo employees this development may act as a morale downer. Yahoo is also trying to recover from the effects of departure of a number of key executives. For the new CEO of the company Carol Bartz it is a hard situation. Yahoo has undergone several layoff earlier. Another rumor of its possible merger with AOL is also doing the rounds in the Internet and tech circles. Yahoo itself however has remained mum on the issue so far.
The key executives at Yahoo are trying to show a brave face and one of them said in a recent interview that he is unfazed by such layoff rumors. Its sales for the previous quarter fell well short of the market predictions and it looks like the company has a bumpy road ahead.
