The coolest place on the internet, according to this tagline.

April 4, 2012
Today’s actions are an important next step toward a bold, new Yahoo! — smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose – putting our users and advertisers first – and we are moving aggressively to achieve that goal. Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they’ve contributed to Yahoo!.
Yahoo CEO Scott Thompson • In a statement regarding the thousands of layoffs it plans to enact. The company’s press release says that it will “radically simplify” how it build products.
10:25 // 2 years ago

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?

Read ShortFormBlogFollow

10:17 // 2 years ago
March 5, 2012
11:04 // 2 years ago