Yahoo to Cut 1,000 Jobs, and Warns on Growth
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Despite the disappointing outlook, the company said it planned to invest aggressively in advertising technology as it tries to capture a larger share of online ad dollars.
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When Yahoo posts fourth-quarter results after closing bell tomorrow, the company is expected to deliver a couple of disappointing announcements, including job cuts and a less profitable agreement with AT&T.
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Social-networking Web site  Facebook.com is in serious talks to sell itself to Internet  media company Yahoo Inc. for an amount that could approach $1  billion, The Wall Street Journal reported on Thursday.
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Morgan Stanley  on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans.
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Hershey co.  on Thursday said it  would cut about 1,500 jobs and reduce the number of production  lines it operates by more than a third as it tries to  streamline manufacturing to improve profits.
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After a challenging year, Yahoo posted a 23 percent decline in fourth-quarter profits and announced plans to cut 1,000 positions.
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Morgan Stanley  is cutting about  1,000 jobs in the coming week, part of efforts to trim costs  ahead of what it expects will be a tougher business  environment, a person briefed on the moves said on Thursday.
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As Yahooâs board decides what to do about Microsoftâs buyout offer, the ax falls for some 1000 Yahoo employees.
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Struggling electronics maker Sanyo  Electric Co. (6764.T) is considering slashing up to 1,000 more  jobs as it seeks to rebuild its appliance operations, the  Sankei daily reported on Thursday.
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General Motors of Canada  will cut about 1,100 jobs at a truck plant in Ontario amid slumping pickup sales, the company said on Thursday.
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Even before Microsoft offered its buyout bid, Yahoo acknowledged plans to lay off about 1,000 workers. Now, those layoffs are under way, regardless of Microsoft's acquisition hopes, with pink slips being handed to the leaders of Brickhouse and Yahoo Personals, among others.
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Motorola, the world&#39;s second largest mobile phone maker, is cutting 1,000 jobs although its core cellphone business will be unaffected.
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TORONTO -- Nortel Networks yesterday gave details of a previously announced job cut program, saying it is cutting 1,400 positions in the United States by next June.
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Battered by slow revenue growth and the popularity of social networking Web sites, Yahoo! Inc. is poised to lay off hundreds of workers, according to published reports.
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Motorola said yesterday it would cut 1,000 jobs, as the company continues to refocus on its core mobile phone business. It said some positions being cut were related to the Freescale Semiconductor division that Motorola is in the process of spinning off.
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(InfoWorld) - A slowing U.S. economy may already be impacting Yahoo's Web advertising sales growth, the head of the company said Tuesday, a trend that does not bode well for other ad-supported Internet sites. "We're seeing some slowing in perhaps two of the largest sectors, both autos and financial services," said Terry Semel, chairman and chief executive officer of Yahoo, in response to questions at a Goldman Sachs conference. Advertising sales from both sectors have slowed down during the past three to four weeks, although both remain on a growth track. "They're growing, but they're not growing as quickly as we would have hoped at this moment in time," said Semel. The comments sparked a sell-off in Yahoo shares, which plunged 11.2 percent, or $3.25, to close at $25.75 each during normal trading hours. Other Internet stocks suffered from the comments, with Google shares falling 2.6 percent to $403.81, and eBay stock ending 3.3 percent lower to finish the day at $25.95. Yahoo loweredÂ its third quarter outlook to the lower end of its guidance. The company had forecast revenue, excluding commissions, to be in the range of $1.12 billion to $1.23 billion this quarter. A slowdown in advertising growth on the Internet could hurt the development of new Web sites in the near term, since so much content depends on advertising sales to support operations. But Yahoo was careful to note that it cannot tell whether the current slowdown is a sign of broader trouble or is limited to ads from the auto and financial sectors. The company also noted that while the weakness in advertising showed up in some of the most economically sensitive categories, it's not necessarily a sign of a slowing U.S. economy. "It's too early to tell if this is a sign of anything broader," said Susan Decker, head of finance at Yahoo, who attended the conference with Semel. An audio Web cast of comments by the two Yahoo executives can beÂ accessed here.
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Motorola plans to axe 1,000 workers across a number of business units, hoping to reduce costs as it refocuses on its wireless business.