Yahoo! indeed has planned to fire 1500 workers in order to implement its cost cutting exercise in full flow!.
The economy smashup is spreading its arms all over the world… Despite of good economic figures in the third quarter, Yahoo is still set to reduce the staff by an equivalent ten percent reduction on its payroll.
"We are going into what is very clearly a recession mode," Blake Jorgensen, Yahoo's chief financial officer, said in a Tuesday interview.
Keeping this economic pile-up in mind, Yahoo's Jerry Yang remained confident that the conditions would soon become stable:
"The steps we are taking this quarter should deliver both near-term benefits to operating cash flow, and substantially enhance the nimbleness and flexibility with which we compete over the long term. We enter this slowing market with competitive advantages as the destination of choice for consumers and as a leader in providing online advertisers with the broadest set of advertising management tools and products in the industry. We plan to continue building on those strengths"
"I believe getting Yahoo more fit at this time will provide the flexibility necessary for navigating current conditions and strengthen our position for the future," Yang elaborated on this issue during a Tuesday conference call.
Let me tell you that it is the second time in the last 9 months that Yahoo has implemented cost-cutting exercises in the form of massive layoffs! But it seems that these efforts have been ineffectual in order to rebound from the huge financial shipwreck, specially in the US economy!