Yahoo-oooh ..... Oh-No-oh!

[marmar]

from the NY Times:



Yahoo to Cut 10% of Its Work Force

By MIGUEL HELFT
Published: October 21, 2008


SAN FRANCISCO — Yahoo’s business continued to falter in the third quarter, and the company said Tuesday that it would cut at least 10 percent of its work force, or about 1,400 workers, in the current quarter to reduce costs.

Yahoo said that its net income for the quarter fell 64 percent, to $54 million, or 4 cents a share, from $151 million, or 11 cents a share, a year earlier. Excluding the cost of stock options and other items, income was $123 million, or 9 cents a share, compared with 11 cents a share a year ago.

With the turmoil on Wall Street and an economic downturn weighing on the online advertising business, Yahoo said revenue rose a sluggish 1 percent to $1.786 billion, from $1.768 billion a year ago. Net revenue, which excludes commissions paid to advertising partners, was $1.32 billion, compared with $1.28 billion a year ago, a 3 percent jump.

The results fell slightly short of analysts’ recently reduced expectations. On average, Wall Street analysts expected the company to report net income of 9 cents a share on net revenue of $1.37 billion. Yahoo also lowered forecasts for the rest of the year.

“As economic conditions and online advertising softened in the third quarter, we remained highly focused on our 2008 strategy to invest in initiatives that enhance not only our long-term competitiveness, but also our ability to deliver for users and advertisers even in this more difficult climate,” Jerry Yang, Yahoo’s chief executive, said in a statement. ......(more)

The complete piece is at: http://www.nytimes.com/2008/10/22/technology/companies/22yahoo.html?_r=1&hp&oref=slogin

[Subdivisions]

1. Hey marmar, you the part of a tsunami that has the water receding

into the sea...you know, just before it comes roaring back to wipe the slate clean? That's where the world is right now, as the financial crisis sucks the water from the shores...

[KamaAina]

2. Does that mean they'll stop asking me for my password every five minutes?

That is so annoying! I suggest they start by handing a handsomely framed pink slip to whoever programmed that "Why am I being asked for my password?" page! :argh:

[marmar]

3. That is annoying......

Reminding Yahoo that you are you every couple of weeks.