Yahoo confirms the bloodbath: Will lay off 14 percent of its work force
- 2,000 the number of workers Yahoo, which has struggled in recent years, plans to lay off
- $125M the base charge the company will take for the layoffs, going to things such as severance pay
- $375M the amount the company says it will save annually as a result of the mass layoffs source
» Not in good shape these days: With declining traffic on certain sites and a $20 billion valuation largely due to the company’s minority stakes in Asian internet companies, the company is in bit of a rough patch, partly reflected in Microsoft’s failed attempt to buy the company in 2008, the shifting executive branch, and the company’s spurning of parts of its product line, such as Delicious. Recently, the company has been in the news for a patent lawsuit with Facebook, which we covered last night. Are you guys worried about the future of Yahoo? Can they right the ship?