Yahoo to cut workforce by 10 per cent

[jaibin]

Yahoo decided to cut at least 1500 employees from their work due to crisis in economy. Their net profit for the third-quarter of the year was US$54 million, or four cents per share, down from US$151 million and 11 cents per share during the same period of 2007. Economic slowdown has hurt the firm particularly hard as advertisers cut back on spending. Yahoo has been losing ground on the internet to companies such as Google, MySpace and Facebook.

[trinitybrown]

Yes I agree with you, inflation in worldwide economy has adverse effects on the established and rich countries which results in this form, hope the problem will be solved soon

[regmac]

This is a very horrible reality on the side of yahoo. How could they produce more if they loss some? Am I right to say then that yahoo is going down and we'll be out in the next few years? Hope they're not.

[zenodoo]

Yahoo decided to cut at least 1500 employees from their work due to crisis in economy. Their net profit for the third-quarter of the year was US$54 million, or four cents per share, down from US$151 million and 11 cents per share during the same period of 2007. Economic slowdown has hurt the firm particularly hard as advertisers cut back on spending. Yahoo has been losing ground on the internet to companies such as Google, MySpace and Facebook.

Anything related to businesses are affected when economy slows down and yahoo is not an exemption. So sad to hear this.

[ezekiel17]

thats true.! internet connection goes up, so as the prices of some Yahoo services..

[financialinsurance]

Many corporate companies do the same thing when they find that their company is not getting any profit.