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This is an eyewitness report from the NowPublic member Jarrett Martineau who was on the scene.
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Yahoo To Slash 1,500 Jobs
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by Jarrett Martineau | October 21, 2008 at 01:29 pm
217 views | 27 Recommendations | 4 comments
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This is just one of many cuts to be made in this sector. Please see additional NowPublic coverage on this story:
Can Tech Start-Ups Survive the Current Financial Crisis?
Web 2.0 companies see layoffs in wake of credit crisis
Yahoo’s business continued to falter in the third quarter, and the company said Tuesday that it would cut about 10 percent of its work force, or about 1,400 workers, in the current quarter to reduce costs.
Yahoo said that its net income for the quarter fell 64 percent, to $54 million, or 4 cents a share, from $151 million, or 11 cents a share, a year earlier. Excluding the cost of stock options and other items, income was $123 million, or 9 cents a share, compared with 11 cents a share a year ago.
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Most RecentMost Recommended Comments (4)
at 14:27 on October 21st, 2008
Jarrett Martineau, I like this story. It's good stuff. Man that's a bummer!!
at 16:00 on October 21st, 2008
I was part of the lay-off at some point.
at 19:27 on October 21st, 2008
Better get some of their best techies over here on NP.
at 05:56 on October 22nd, 2008
Jarrett Martineau, I like this story. It's good stuff.