Yahoo Mass Firings December 10, Still Too Few
The company is still reportedly planning to can about 1,500 Yahoos. A cut of that size would only roll the company's workforce back to Q2 levels, and, in our opinion, it would leave Yahoo in a position where it might have to make further cuts next year. This is not the way to set the company up for a clean, fresh start.
In better news, Yahoo and AOL are reportedly far apart on price in their merger negotiations: AOL's at $6 billion, Yahoo's at $3 billion. Given how little interest either side has in doing this deal, it would almost certainly be a disaster if they did it, so better to just let it go. (If Yahoo can get AOL for $3-$4 billion, however, it should take it).
See Also:
Yahoo Fat Farm: How Many People Does Yahoo Need To Fire To Get Fit?
Yahoo Firings In Perspective: Company Shrinking To Q2 Size
Engineers at yahoo have completely lost all morales and motivation. So managers (especially the ones Yahoo engineers directly report to) are using layoffs as intimidation to get stuffs out.
The best morale booster is to layoff
all these useless managers.
If someone has a VP title or a project manager, program manager title and it is not clear how they make money for the company- can them.
Nobody will even notice they are gone. If they over hired but their team didn't produce, perform or contribute to the bottom line - cut them too- nobody will miss them either.
Wherever the largest amounts of cuts are coming from- it is a good bet that the management doesn't have basic business, financial or headcount planning skills. Can them too, and whoever hired them.
Techcrunch baffles me. We are all watching yahoo in open mouthed horror. It is clearly the fault of management- so quit crying every time you see another executive leave. If the management has brought the company to its knees, then cheer for every one who leaves. Even if they happened to be one of the good guys, so what?- their efforts are wiped out by the tsunami of ineffective people taking up space.
Clean them all out if need be and replace them all. The market will likee.
YHOO's bosses clearly deserve the flak they're getting by turning down a MSFT offer of $31-33, but one thing I don't see anyone talking about is that YHOO has not significantly underperformed its peers since before MSFT made the offer. This would imply to me that the sky is not falling any faster at YHOO than in other tech companies.
Since Jan. 31, 2008 - the day before the MSFT offer, here are the relative performances of YHOO and others:
GOOG: -45.2%
YHOO: -44%
TWX: -41.3%
MSFT: -38%
AAPL: -33.3%
So YHOO clearly isn't doing great, but it is not at all alone in terms of the relative decline of its stock since the market began its descent.
YHOO shareholders should be mad as hell that the MSFT deal was blown, but interestingly a YHOO employee with stock options may actually be relatively better off than their counterpart at GOOG since this whole MSFT fiasco began.
But you're right: Since then, Yahoo hasn't done any worse than anyone else.
And Jerry please stop insulting everyone’s intelligents,you walked away from Microsoft Damn it, please stop saying that you did not. It was covered by the media every step of the way, ok liar so stop it. Jerry do the honorable thing, ahhh never mind you won't you screwed all your share holders I hope you cannot sleep at night.
Icahn where are you? And where is Bostock the clown?
Now AOL is pretty lean, but, as always since the merger, they are 1+ years behind where they needed to have been such that they could've weathered the economic storm in better shape than they are; things just start coming together for them (see their increasing pageviews etc) as the whole market implodes.
Yahoo! is in a much better financial position at the start of this than AOL, so it's unfortunate they don't do one single massive restructuring (and a couple of tweaks continuing on) rather than, as SAI has continued to point out, the "death by a thousand cuts" AOL has been subjected to through mismanagement and lack of direction,
Good luck, Yahoo-ers. It's not fair that Jerry and Sue are doing this the painful way when they should be exec-uted out the door, especially right during the middle of the holidays. Bastages.
For yahoos, it is not about stocks and top execs (engineers have just little investment in the company). It doesn't matter stock is at $45 or $5. It's morale, motivation, spirit, etc.
It's about those a*holes clueless managers they have to face day to day.
They just did another re-org in ads group two days ago so these managers won't be layoff.
Knowing that, engineers feel hopeless. Some managers cried they have too many people reporting to them so they got promoted. Some are crying now that they were reporting to a level higher. None of them even bother ONCE to talk about real work, team morale, etc. They do their routine that it's better for Yahoo, better focus, better alignment. There will be more
reorg and reorg. Unfortunately, reorg is
their only skill.
Sales
Marketing
Crap like astronomy that brings in ZERO dollars
All international properties that are losing money
The multitude of middle and upper management that literally do NOTHING
Cut those, and you're at 3,500 easily.
Problem is, they're too stupid to do that. Yahoo will cut a few people from those groups, then they'll make cuts across the board.
So even if you're in a lean property or group and you're generating a lot of money for the company, you're gone.
Because they don't have the balls to do what's right.
I am not saying that GPA or grades are always suggestive of one's talent.But when you have lot of such employees, chances of having inferior talent pool is high.
There was or is no policy.
VPs and managers brought in their cronies. I I saw so many managers and sw architects that came in the last couple of years. For god sake, they were even paying $6k sign on bonus for these cronies. Some didn't even go through any interview or screening. Again, all level of management is to blame.
House cleaning is definitely in order but still the foxes/mgmt are still guarding the hen house so don't expect anything to change.
These guys (all level of managements) are getting big paychecks (probably biggest in their lives and probably can't get jobs elsewhere) so they will do anything (lie,cheat,con,scam,etc.) to keep their jobs and they have literally no interest to do what is best for Yahoo.
Or they know and don't care. There are simply too many overpaid people at Yahoo who contribute nothing and are hanging on and cashing out while they run the company into the ground.
YAHOOOOOOO!!!!!!