Yahoo (YHOO) Seeking Buyers For Its HotJobs Unit
Yahoo's (Nasdaq: YHOO) new CEO, Carol Bartz is moving quickly to streamline Yahoo's businesses and sell off ancillary businesses. The FT is reporting that Yahoo is looking for buyers for its HotJobs employment site, and other acquisitions could be announced as well. Yahoo bought HotJobs in 2001 for $436 million in cash and stock. Just last night, Yahoo announced it sold its 10% interest in Gmarket (Nasdaq: GMKT) to eBay (Nasdaq: EBAY).
Yahoo is also expected to announce between 200 and 500 job cuts and some reorganizing of the management. Earlier this week, the WSJ said Yahoo is again talking to Microsoft (Nasdaq: MSFT) on some sort of collaboration.
HotJobs recently slipped to third in terms of monthly audience, behind CareerBuilder and Monster.com.
Even though Yahoo is third in terms in traffic, it may still attract a decent price for YHOO. In September, Gannett bought just 10% of CareerBuilder for $135 million.
Yahoo is also expected to announce between 200 and 500 job cuts and some reorganizing of the management. Earlier this week, the WSJ said Yahoo is again talking to Microsoft (Nasdaq: MSFT) on some sort of collaboration.
HotJobs recently slipped to third in terms of monthly audience, behind CareerBuilder and Monster.com.
Even though Yahoo is third in terms in traffic, it may still attract a decent price for YHOO. In September, Gannett bought just 10% of CareerBuilder for $135 million.
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