Yahoo Continues Circling the Drain: Big Layoffs Likely
Yahoo is expected to announce significant layoffs next month, with reports ranging from 10 and 20 percent, or anywhere from 650 to 2,500 employees.
TechCrunch initially reported the 20 percent figure. In a statement, Yahoo called that number “misleading and inaccurate.”
AllThingsDigital reported the layoffs should be “closer to 10 percent and be almost completely centered on the product organization under Chief Product Officer Blake Irving.”
Expect layoffs to be closer to 10 percent, as Kara Swisher has been the most reliable source for information during Yahoo’s recent turmoil.
Other cost savings have included numerous job cuts, reorganizations, and its search alliance with Microsoft. Bing also powers Yahoo’s search results.
Another Potential Buyer
Earlier this week, Reuters reported that Alibaba’s Jack Ma had been approached by a group of private equity investors to gauge his interest in joining a bid to buy Yahoo. AOL has also been rumored for a while to have some interest in buying Yahoo.
Yahoo Hires Sales Exec
Yahoo has hired Wayne Powers as SVP advertising sales for North America. The former president of Time Inc. Media Group will report to recently hire Ross Levinsohn.
The Brutal Decline of Yahoo
How bad has it been for Yahoo? An infographic making the rounds yesterday details the “Brutal Decline of Yahoo” (via scores.org):
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(click image to enlarge)
Rough Week For Search (Unless You’re Google)
Also, earlier this week, we learned Ask is giving up on search and laying off about 130 engineers.
In reading “7 Search Engines Google Obliterated” (Excite, InfoSeek, AltaVista, HotBot, AllTheWeb, Yahoo, and Ask) over on Search Engine People’s blog yesterday, it makes you hope a site like Blekko or a new player sees some success to lessen Google’s increasing stranglehold on search.