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Yahoo lays off 2,000 Employees. Startups Celebrate

Yahoo! announces plans to lay off 2,000 employees.

Apr 4 2012, 8:47am CDT | by

11 Updates
Yahoo lays off 2,000 Employees. Startups Celebrate
 
 

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Yahoo lays off 2,000 Employees. Startups Celebrate

 

Yahoo! today confirmed that it is undertaking major cuts again. Yahoo! will begin the process of informing employees about these changes. As part of that effort, approximately 2,000 people will be notified of job elimination or phased transition.

"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," said Scott Thompson, CEO of Yahoo!. "Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they've contributed to Yahoo!." 

Yahoo! expects to realize approximately $375 million of annualized savings upon completion of all employee transitions. The company currently expects to recognize the majority of an estimated $125 to $145 million pretax cash charge relating to employee severance in its second quarter financial results. The company may incur additional charges in connection with this action. More information will be provided about Yahoo!'s future direction in conjunction with the release of its first quarter financial results on April 17, 2012. 

The good news here is that startups get new talent in the tight job market. 

 

 

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Update: 11

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Update: 10

Yahoo, China news send stocks higher

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Alibaba To Kick Off IPO In U.S.
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Update: 9

Yahoo, China news send US stocks higher at midday

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Stocks are moving higher for a third day in a row after more U.S. companies report solid earnings and on encouraging news about China's econo ...
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Update: 7

Yahoo, China news send US stocks higher at midday

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Update: 6

New Behind the Scenes Footage for Guardians

Source: IGN

A new behind the scenes look at Guardians of the Galaxy has arrived. Clocking in at a minute long, the video features the main cast of Chris Pratt (Star-Lord), Zoe Saldana (Gamora), Dave Bautista (Drax the Destroyer), Vin Diesel (Groot) and Bradley Cooper (Rocket Racoon), along with producer Kevin Feige, briefly discussing the Guardians as a gang of antihero outcasts and how the film will expand the Marvel Cinematic Universe. Unfortunately, though there's footage of the Groot and Ro ...
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Update: 5

DAILY BRIEFING: Wall St. report

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Update: 4

US stocks open higher; Yahoo soars in early trade

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U.S. stocks moved higher in early trading on Wednesday, extending their gains into a third day. Investors welcomed solid earnings from Yahoo as well as some encouraging news about China's eco ...
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Update: 3

There's A Small Sliver Of Hope For Those Investing In Yahoo For The Sake Of Yahoo

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Update: 2

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Update: 1

Wall Street climbs after China data; Yahoo jumps

Source: Asia One

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NEW YORK - US stocks rose at the open on Wednesday after China's economic growth exceeded expectations and Yahoo shares rallied on the strength of revenue growth in Chinese e-commerce giant Alibaba, in which it has a stake.The Dow Jones industrial average .DJI rose 51.8 points, or 0.32 per cent, to 16,314.36, the S&P 500 .SPX gained 7.02 points, or 0.38 per cent, to 1,850 and the Nasdaq Composite .I ...
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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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