Businessweek Archives

Yahoo Layoffs Begin


It?? pink slip day at Yahoo?? purple-and-yellow digs, I?? told by a Yahoo executive. More coverage of the expected layoffs here, here, and here. But from what some of them, such as Susan Mernit, are blogging and Twittering about their departures, at least some of the people getting canned are pretty surprised. Another, Randy Farmer, blogged this:

It turns out that this force reduction included [me] Randy Farmer and Chip Morningstar - much to our mutual surprise as we each had strong contributor/leadership roles in the company. From here it looks like they might have gone after those with larger salaries given the number of top-quality people we saw get the axe today. Given what we were working on, it was doubly confusing.

This layoff should be a recruiters dream.

No doubt, because all three of these folks are fairly prominent and certainly accomplished figures.

I gather it?? about the 1,000 jobs Yahoo had mentioned last month during the conference call, in a wide range of departments, but the exact number is unclear. What is clear, according to one source: Morale is managing to fall even further as people say their goodbyes to colleagues and wonder what further nastiness lies ahead.

The layoffs come during a relative lull in the battle between Yahoo and Microsoft over the software giant?? unsolicited bid to buy the Internet portal, though it appears shareholders want to see the deal done. After getting accused for moving too slowly for months and even years, though, Yahoo managed to squeeze in even more today??he acquisition of Maven Networks today for $160 million and several mobile initiatives. Guess those things were in process, but they must seem beside the point to a lot of Yahoos today.


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus