Yahoo gearing up for HUGE layoffs?
Shoemoney points us to Silicon Alley Insider story that suggests, according to sources, Yahoo is getting ready to can 1500-2500 of its employees.
Last night we reported a tip that Yahoo has created a list of 1,500-2,500 jobs that may be cut within two weeks and that Jerry Yang will make the decision to go ahead with the layoffs–or not–this week. We have now received additional details from the same source, who has been reliable in the past.
The decisions appears to be based on poor stock performance.
The decision to go ahead with lay-off is said to be largely dependent on stock price: Yahoo’s stock trading in the low $20s has gotten Jerry’s and president Sue Decker’s attention. Jerry will feel vulnerable if the stock goes into the teens and will try whatever he can to prop it up. He’s not ready to give up the CEO job, sell-out, or shop the company around at this point.
Ouch.
