Yahoo! Faces Financial Downfall
October 22, 2008 · Filed Under Blogging, Search Engines
Looks like Yahoo! is facing the downturn of US economy. The third quarter disappoints have put Yahoo! into pressure to cut down 10 percent of it’s global employees by the end of the year. And that’s a huge cut for a company that has about 14000 employees. The net profit of the company fell 64%, to $54.3 million, or 4¢ a share. Compared to the same time last year, a 1% increase in gross revenues, to $1.79 billion.
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[...] Yahoo! to Cut 10% Jobs Looks like Yahoo! is facing the downturn of US economy. The third quarter disappoints have put Yahoo! into pressure to cut off 10 percent of it’s global employees by the end of the year. Continue Reading » [...]