Yahoo to proceed with layoffs starting Wednesday
In a bit of somber Monday morning news, it appears as if Yahoo is going to proceed with its planned end of the year layoffs which are expected to occur on Wednesday. Originally announced by Jerry Yang on October 21st during Yahoo’s last earnings call, the layoffs have been overshadowed by the news of the dethroning of Jerry Yang and the constant and sometimes false rumors of a Yahoo-Microsoft deal. Pushed aside but not forgotten, a new report provides additional details about the impending Yahoo layoffs:
- The number currently remains at 1,500, although given the current economic environment, several sources at Yahoo expect the eventual numbers to add up to be more that that, up to 2,000.
- The layoffs are mostly across the board. But expect general, human resources and finance to take a bigger hit, since the expenses are cost-based and most of their costs are staff.
- Employees targeted will be told on Wednesday morning with a “normal separation period,” said a source close to the situation, which means they will be out within a few hours on the same day.
- Yahoo execs, sources say, are not expecting any serious problems, i.e. extremely upset employees, because these layoffs have been long anticipated. But there will be security present at its Sunnyvale HQ and elsewhere, as there always is with most big layoffs at any company.
- Most employees do not know if they will be let go yet, nor has management in charge of the cuts made that public. That’s because whole projects might be eliminated, sources said, and the cuts might present yet another chance to restructure more.
- No, Yang is not leaving as CEO quite yet, although this week is a perfect time to name a new CEO and get the focus off of the bad news at Yahoo.
Though the layoffs were expected, prior knowledge does not lessen the blow; especially during the holiday season. Our sympathies and best wishes go out to all Yahoo employees who will be ringing in the New Year while looking for a new job.
Reason #1 why I left IT. As long as stuff still catches on fire and people still drink a little too much eggnog and wrap their cars around trees, I will still have a job. Not that my position is immune, but usually when one department starts doing layoffs, there is another department not far away ready and willing to pick up those people. Especially in this economy, what hits paid departments also hits the vollies. Less people stay volunteer firefighters and then the townships are forced to pick up a few paid firefighters and having years of experience in a big city makes that person a shoe-in. No more night work or any of that. A cushy 6am to 6pm, monday through friday gig that pays out at least $40k more a year.
What the hell are you talking about
One sector that isn’t doing massive layoffs: Police, Fire and EMS.
….that was pretty easy to figure out….
The pink slip is bigger than the envelope, I guess that sure send a clear message…
I want to know more about MadMike’s career.
The world is different today compared to the past (compared to even just a year ago). The constant march of technology makes it possible for a smaller work force to do virtually the same job as a larger workforce. As white collar employees are handed pink slips, an employer like Yahoo, a bank or a brokerage may be prudent to generously retain their e-mail records. The records are a valuable asset to the employer, relating to intellectual property, project management, customer relationships and more. –Ben
Me too.. like if it entails him earning over $100K/yr.. oh and does it come with stock options, amazing benefits, and all the other stuff tons of IT jobs like Yahoo were known for in the past? Just curious…