Yahoo to Lay Off 1,500; Posts Steep Income Drop

Posted on by Chief Marketer Staff

Yahoo Inc. expects to lay off about 10% of its workforce or about 1,500 people this quarter as it posted net income of $54.3 million for the third quarter, a steep drop from $151,286 in the prior year.

The online marketing engine giant reported revenue of $1.8 billion for the quarter ended Sept. 30, a 1% increase over $1.79 billion last year.

“As economic conditions and online advertising softened in the third quarter, we remained highly focused on
our 2008 strategy to invest in initiatives that enhance not only our long term competitiveness, but also our ability to deliver for users and advertisers in this more difficult climate,

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