Yahoo Layoffs

After a disappointing fourth quarter in 2007, Yahoo announced that it would cut 1,000 jobs in mid-February of 2008.¹ Jerry Yang, Yahoo's CEO, warned that the company may experience "headwinds" in the 2008 fiscal year. However, Yahoo did stress the importance of focusing on its core business and investing aggressively in advertising campaigns.

Fast Facts

1. Yahoo laid off approximately 7 percent of its workforce in February 2008²
2. 2007 fourth quarter net profit fell 23 percent compared to the same period in 2006
3. Earnings per share fell 15 cents in the fourth quarter of 2007³
4. After the news of the job cuts, Yahoo stock decreased in value by 10 percent³
5. Employees: 14,300 (as of March 2008)⁴
6. In a conference call after fourth quarter earnings were released, Jerry Yang described the layoffs as a "workforce realignment"³
7. Yahoo has approximately 500,000 people visiting the site worldwide each month¹

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