Yahoo! cuts 7% of workforce and might be bought by MSN

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Mike Harman
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Joined: 7-02-06
Feb 14 2008 13:15
Yahoo! cuts 7% of workforce and might be bought by MSN
Quote:
Yahoo! is set to axe 1,000 staff from its 14,300-strong global workforce as it continues to fend off Microsoft's unwanted advances.

The internet search engine, which earlier this week rejected an unsolicited $44.6bn (£22.7bn) takeover bid from Microsoft, was understood to have informed staff affected yesterday.

The cuts, equivalent to 7pc of Yahoo!'s headcount, are part of co-founder and chief executive Jerry Yang's attempt to revitalise the company, which has floundered in recent years.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/13/cnyahoo113.xml

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Rob Ray
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Joined: 6-11-03
Feb 14 2008 13:19

Murdoch's interested as well, could spark a bidding war. Won't affect the (1,500 global) cuts though.