layoffs

Yahoo to open Nebraska site

Update at 1:36 p.m. PDT: Details added.

Despite announcing 10 percent layoffs and a weak financial outlook earlier this week, Yahoo plans to build a new data center and open a customer care center in Nebraska, according to an announcement Friday by Nebraska's governor.

The project will entail building a 150,000 square-foot data center in La Vista, a suburb of Omaha. And the Internet search pioneer will open a customer care center in Omaha.

Under the state's Nebraska Advantage Tier 4 business incentives package, Yahoo will apply for various business incentives and tax breaks. And, … Read more

Xerox to cut 3,000 jobs

The world's largest printing and document services company announced plans to cut 5 percent of its workforce and lowered its forecast for the next quarter.

Describing current economic conditions as a "tough business environment," Xerox CEO Anne Mulcahy said that by trimming 3,000 jobs over the next six months, the company will save $200 million, according to a Reuters report.

Xerox's third-quarter net income was $258 million, or 29 cents per share. But excluding onetime charges and the settlement of tax benefits, the company earned 26 cents per share. Most analysts were expecting profits of … Read more

Video site Break.com lays off 11

Video site Break.com has laid off about 11 workers, according to CEO Keith Richman.

The Beverly Hills, Calif.-based company, which was once considered a YouTube competitor in video sharing, now bills itself as an online "entertainment destination for guys." It's planning to hire the same number of people in the future, just "with different skill sets," Richman said.

"Essentially, we are profitable," Richman said in an e-mail Wednesday night. "We have 80 people, are growing 100 percent year over year and still actively hiring for a bunch of jobs." … Read more

Mahalo feels economic pressure, lays off 10 percent of staff

Jason Calacanis, CEO of Mahalo, a human-powered search engine, announced today that he was forced to layoff 10 percent of his staff (about five or six people) amid a "challenging economic environment" that will require the company to cut costs.

"Although we've got a significant amount of cash on hand, and the business is ahead of schedule in terms of traffic, we're fairly certain that the advertising climate for the next two years will be severely depressed," Calacanis wrote in a blog post. "To ignore this obvious fact would be irresponsible.

"We'… Read more

SanDisk layoffs appear to be in the works

In the wake of a big loss posted this week by SanDisk, layoffs appear to be in the offing.

On Monday, SanDisk said in prepared remarks that as part of its efforts to reduce operating expenses, "actions will be implemented in the current quarter" and will include "canceling or exiting a number of products and marketing activities, and will result in employee reduction in R&D, Sales & Marketing, G&A, and Operations."

And on Monday during SanDisk's third-quarter earnings conference call, CFO Judy Bruner spoke about more restructuring to come. In response … Read more

Yahoo earnings: It could be worse

Response among in tech journalists to Yahoo's layoff announcement and profit drop runs the gamut. But on one thing they agree: it could have been worse.

Here's Stephen Shankland's analysis following the call. And here's what some others are saying in the debrief:

Weaker results? Check. Guidance going forward weaker still? Check. Layoffs? Check. Economy sucks? Double check! Nonetheless, Yahoo CEO Jerry Yang said he "remained optimistic" about Yahoo and was going to "get fit" and power through its obvious troubles. Get this guy over the to McCain campaign pronto! Yahoo's … Read more

Yahoo bets on a glass half full

Yahoo Chief Executive Jerry Yang had some bold words to say while announcing the company's third-quarter financial results. The only problem is that they might have been a different set of words than disgruntled investors were expecting.

Though Yahoo announced a 10 percent layoff that will affect at least 1,430 employees, Yang and President Sue Decker also talked in optimistic terms about how the company is working to achieve a strong position when the advertising market recovers from the current economic troubles. It's smart to plan for the long-term, but right now, investors are fixated on Yahoo'… Read more

Yang's e-mail on Yahoo restructuring

Yahoo CEO Jerry Yang tells Yahoo employees in an e-mail that the company has "been through a tremendously challenging year." This is the full text of his e-mail:

From: Jerry Yang [mailto:jerry@yahoo-inc.com] Sent: Tuesday, October 21, 2008 2:20 PM To: all-worldwide@yahoo-inc.com Subject: update

yahoos,

i feel it's important for me to reach out to you after our earnings announcement, and before our all hands meeting tomorrow.

we as a company have been through a tremendously challenging year; and managing the increasingly turbulent global advertising climate has been an important focus for … Read more

Yahoo profit drops; at least 1,430 to lose jobs

Updated 3:20 p.m. PDT with further details from conference call.

Yahoo on Tuesday reported a 64 percent drop in net income for the third quarter, issued cautions about a weakening advertising market, and confirmed that layoffs are indeed on the way.

"As we saw the online ad market decline in the third quarter, I decided Yahoo needed to accelerate the process of getting more competitive," Chief Executive Jerry Yang said in a conference call. "We anticipate we will reduce headcount by at least 10 percent" by the end of the year.

With 14,300 … Read more