Yahoo! (YHOO) Attempts to Slim Down with Hiring Freeze
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Following news co-founder Jerry Yang stepped down from the Board, and ahead of the company's fourth-quarter results on Tuesday, Jan. 24th, Yahoo! (Nasdaq: YHOO) is reported to have entered a hiring freeze.
AllThingsD's Kara Swisher said Thursday the company will not fill hundreds of open positions, what may be viewed as new chief executive officer Scott Thompson's first step to reduce expenses and increase margins. Swisher notes the layoffs will likely be "small and selective for now..."
The company claimed it had 13,700 employees at the end of the last quarter, down 300 employees year over year.
A number of changes are expected to continue at Yahoo!, including the resignation of more directors, reports Swisher.
The article notes Seth Dallaire, one of the company top advertising executives, announced Wednesday he would be leaving Yahoo! to go and work for Amazon (Nasdaq: AMZN) -- probably the right choice.
Yahoo! has been one of the most talked-about companies over the past few months as the Board aims to scale down by selling its Asian assets. Analysts and investors will receive updates on the company’s goals and plans during its conference call, scheduled for 5pm following the closing bell on Tuesday. The Street is currently expecting Yahoo! to report earnings of $0.24 per share on $1.19 billion in sales.
AllThingsD's Kara Swisher said Thursday the company will not fill hundreds of open positions, what may be viewed as new chief executive officer Scott Thompson's first step to reduce expenses and increase margins. Swisher notes the layoffs will likely be "small and selective for now..."
The company claimed it had 13,700 employees at the end of the last quarter, down 300 employees year over year.
A number of changes are expected to continue at Yahoo!, including the resignation of more directors, reports Swisher.
The article notes Seth Dallaire, one of the company top advertising executives, announced Wednesday he would be leaving Yahoo! to go and work for Amazon (Nasdaq: AMZN) -- probably the right choice.
Yahoo! has been one of the most talked-about companies over the past few months as the Board aims to scale down by selling its Asian assets. Analysts and investors will receive updates on the company’s goals and plans during its conference call, scheduled for 5pm following the closing bell on Tuesday. The Street is currently expecting Yahoo! to report earnings of $0.24 per share on $1.19 billion in sales.
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