Wednesday, December 10, 2008

Yahoo Starts Layoffs

Yahoo announced Wednesday that the firm has begun its layoffs, as a part of an effort to manage costs under the "challenging economic conditions." According to a letter released by Jerry Yang, Yahoo's CEO, most of the layoffs in the firm's U.S. offices are happening today, and are underway in other regions of the world. Yang disclosed in a earnings call in October that it was cutting about 1,500 employees at the firm.