In a bit of somber Monday morning news, it appears as if Yahoo is going to proceed with its planned end of the year layoffs which are expected to occur on Wednesday. Originally announced by Jerry Yang on October 21st during Yahoo’s last earnings call, the layoffs have been overshadowed by the news of the dethroning of Jerry Yang and the constant and sometimes false rumors of a Yahoo-Microsoft deal. Pushed aside but not forgotten, a new report provides additional details about the impending Yahoo layoffs:
- The number currently remains at 1,500, although given the current economic environment, several sources at Yahoo expect the eventual numbers to add up to be more that that, up to 2,000.
- The layoffs are mostly across the board. But expect general, human resources and finance to take a bigger hit, since the expenses are cost-based and most of their costs are staff.
- Employees targeted will be told on Wednesday morning with a “normal separation period,” said a source close to the situation, which means they will be out within a few hours on the same day.
- Yahoo execs, sources say, are not expecting any serious problems, i.e. extremely upset employees, because these layoffs have been long anticipated. But there will be security present at its Sunnyvale HQ and elsewhere, as there always is with most big layoffs at any company.
- Most employees do not know if they will be let go yet, nor has management in charge of the cuts made that public. That’s because whole projects might be eliminated, sources said, and the cuts might present yet another chance to restructure more.
- No, Yang is not leaving as CEO quite yet, although this week is a perfect time to name a new CEO and get the focus off of the bad news at Yahoo.
Though the layoffs were expected, prior knowledge does not lessen the blow; especially during the holiday season. Our sympathies and best wishes go out to all Yahoo employees who will be ringing in the New Year while looking for a new job.