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Yahoo Confirms Layoffs, ‘Personal Changes Are Part Of Our Ongoing Strategy’

December 14th, 2010 12:34 admin Leave a comment Go to comments

After weeks of no official response from Yahoo on the rumored layoffs taking place this week, a spokesperson for Yahoo has finally confirmed that Yahoo is issuing pink slips to employees today. Here’s the response:

Today’s personnel changes are part of our ongoing strategy to best position Yahoo! for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace. We’ll continue to hire on a global basis to support our key priorities.

Yahoo! is grateful for the important contributions made by the employees affected by this reduction. We are offering severance packages and outplacement services to these employees.

Unfortunately, this statement doesn’t include an exact number (we’ll update if we hear back on this data point). From previous reports, it appears that Yahoo is laying off about 5 percent of its worldwide staff of 14,100, although some business and product units are getting hit harder than others. The total numer of layoffs is rumored to be 650 to 700.

As we wrote a few hours ago, Yahoo employees have been venting about the layoffs on Twitter and via email. According to anecdotal reports, severance packages appear to be pretty generous to employees.

Updating

Source: Yahoo Confirms Layoffs, ‘Personal Changes Are Part Of Our Ongoing Strategy’

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