I’ve been hearing about this story since yesterday: Yahoo is looking at some large layoffs.
Now this won’t surprise anyone because we’ve been waiting for this (while a lesser amount of us have been waiting for them to turn the corner). Everything I’ve heard suggests a lot of non-tech cuts, dropping some products and lines (which will mean tech cuts) and general structure and focus work. Considering the hiring of Boston Consulting Group, I’m not surprised.
Takeaways:
- Duh.
- This is probably Yahoo’s last chance to get it right. However they aren’t ditching or selling themselves off, so there’s some plan there, or the vague illusion of one.
- This may be a slight blow to Silicon Valley, which hasn’t always done well adsorbing layoffs in tough times, but I don’t expect it to be too bad.
- Yahoo has got to get this right or give up. Whatever this is, it’s the last chance before just being bought or selling themselves off in pieces.
- After the layoffs I expect a small uptick in hiring as they replace people they didn’t need to get rid of. This has the smell of a “more than we need” chance to me.
- Frankly, I wouldn’t work at Yahoo unless you’re playing contrarian. I’m not confident enough in their opportunities.
- Morale at Yahoo has got to be TERRIBLE.