Hundreds of Layoffs Expected at Yahoo
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Yahoo plans to lay off hundreds of employees to increase profitability, prop up its deflated stock price and focus on a smaller number of key areas, people close to the company said.
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SBC Communications expects to cut 10,000 or more jobs by the end of next year through layoffs and attrition. That&#39;s about six percent of the San Antonio-based company&#39;s work force.
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Yahoo is restructuring its operations and shuffling its management in the hopes of competing more effectively against nimbler rivals.
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Citigroup  will announce plans to  cut payrolls by 17,000 to 24,000 people when it reports  earnings on Tuesday, CNBC television reported on Monday, adding  that the layoffs could take place over a year.
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Yahoo Inc confirmed on Friday  that Chief Marketing Officer Cammie Dunaway, a member of the  Internet media company's executive team, was leaving the  company, effective November 2.
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Yahoo is likely to cut hundreds of jobs later this month, report says.
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Oracle Corp.  will announce layoffs on Friday as a result of its recent acquisition of PeopleSoft, the company said on Friday.
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Depredate to accumulate Yahoo! is reportedly gearing up to sack up to 20 per cent of its worldwide staff in the next two weeks.â¦
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Terry Semel is stepping down as Yahoo&#39;s non-executive chairman, six months after handing over his CEO title to Jerry Yang.Semel is leaving the board effective immediately, Yahoo announced Thursday. He will be replaced as non-executive chairman by another board member, Roy Bostock, the company said.Semel was chairman and CEO of Yahoo for six years until he was replaced in a management shuffle last June. Yang, one of Yahoo&#39;s co-founders, was made CEO, and Semel was demoted to non-executive chairman.As CEO, Semel helped to build Yahoo&#39;s audience from 170 million to more than 500 million users. But he was also blamed for missteps that allowed Google to build a commanding lead in online search and advertising, prompting last year&#39;s reorganization.&quot;With the Company moving forward under new leadership, I believe this is an appropriate time for me to step down from the board,&quot; Semel said in the statement.He approached the board several months ago about leaving once a replacement could be found, Yahoo said.Bostock has a long history in the advertising industry, &quot;an area that is more important than ever to Yahoo&#39;s business and our long term success,&quot; the company said.On Tuesday&#160;Yahoo reported that net income for its fourth quarter declined&#160;to $206 million, from $269 million a year earlier. It also announced plans to lay off about 1,000 staff.Semel&#39;s departure from the board appears to mark the end of his tenure at Yahoo. Yang thanked him for &quot;his many contributions to Yahoo over the years&#160;-- and for helping to lay a firm foundation for future success and improved financial performance.&#8221;Bostock has been a board member at Yahoo since May 2003 and was elected unanimously by the board to replace Semel. From 1990 to 2000 he was chairman and CEO of D&#39;Arcy Masius Benton &amp; Bowles, and its successor advertising company The MacManus Group.
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Yahoo Inc. plans to close its U.S. offices during the final week of the year, a cost-cutting measure that will require most of the Internet icon's 10,500 workers to use their vacation time if they want to be paid for the time off.
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After declining Microsoft's buyout offer, Yahoo starts the layoffs announced last month.
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Time Warner's struggling Internet unit AOL said it was likely to lay off about 5,000 employees, or a quarter of its global workforce, in the next six months.
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Industry analysts expect close to 10,000 job cuts in the coming weeks so that the workers can be removed from AT&T's books by the end of the year.
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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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DaimlerChrysler is predicted to be on the verge of unveiling up to 10,000 job cuts at its struggling US Chrysler unit.
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Yahoo's top sales executive is on his way out, and a new global sales organization has been created.
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Yahoo Inc. thinks it's back on the right track now that co-founder Jerry Yang has replaced Terry Semel as chief executive, but analysts and investors already are wondering whether the shake-up is just a prelude to more radical measures, including a possible sale or breakup of the troubled Internet icon.