Yahoo says Merry Christmas and goodbye to 1,500 workers
By Susan Wilson
Ouch. This is looking less like the season to be jolly, and more like the season to brace yourself. The economy is getting worse by the day and embattled Yahoo will be laying off yet more workers on Dec. 10 – two weeks before Christmas. Not the bonus most Yahoo workers have grown to expect over the years.
Reuters learned that Wednesday, Yahoo will tell 1,500 employees or 10 percent of its workforce, “goodbye”. The layoffs are coming during what was already going to be a tough Christmas for many, but is turning into a nightmare for others.
The layoffs are expected in “the labor-intensive areas of human resources and finance.” Yahoo had announced in October that it would cut costs further in 2009 if the economy continued it downward spiral, but found itself having to make the cuts before the New Year.
Southeast Asia, India, and Eastern Europe can look forward to seeing their workforces rise as Yahoo sends more jobs to these “lower-cost” areas while cutting jobs in “higher-cost markets”. The United States presumably falls within that “higher-cost market” status.
There is never a good time to get laid off, but it is especially difficult at Christmas when everyone is looking forward to Christmas parties, gift giving and surprise Santas. This year at Yahoo, Christmas will be grim even for those who don’t lose their jobs.
Although Yahoo has signaled that it will be hiring in Eastern Europe and Southeast Asia, if the economy continues to weaken, those numbers will be less substantial than anticipated. 2009 could see even further cuts.
Yahoo has been on a decline since turning down Microsoft’s offer to buy it and does not look as if it has pulled out of the dive.
Jerry Yang’s anticipated departure won’t happen until a replacement is announced so he, at least, will still be attending very somber Christmas parties at Yahoo.
This year a Christmas bonus at Yahoo will be not losing your job, yet.
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