As a result of a lack of growth in recent months, Yahoo! has decided to lay off at least 600 to 700 employees. With a total of 14,000 employees it is certainly not a huge number but still significant enough to mean something for the lives of those who are being let go and around the holiday season no less.
Apparently the search engine company had been planning the cutbacks for some time due to the fact that they were not expanding at the rate they hoped and that keeping on more people than necessary would ultimately drain their profits. Employees of the company could learn about being laid off on Tuesday, as that is when the announcement is expected to be.
The last few times employees have been laid off, it was because of the CEO Carol Bartz who is very experienced in Silicon Valley and has made the difficult decision of laying off hundreds of people in order to keep the company afloat.
Barts, although she doesn’t have a lot of experience in advertising or the web, has been running Yahoo for a while. The stagnant stock price of lack of growth from Yahoo has triggered a serious of decisions from the top that has led to many layoffs which will certainly take a toll on those who lose their jobs.
Perhaps in connection with the firing Yahoo has suffered some down time today and no explanation was given.