Yahoo layoffs, stock prices rose.
This Internet News is provided from the ShangHai XingGuo Net Technology co.,Ltd
Yahoo recently revealed that the company’s first quarter due to the unsatisfactory performance of the company’s job cuts will be much higher than expected proportion.
According to foreign media reports, Yahoo released Monday reported that the company ended on September 30 in the third quarter net profit fell to 54,300,000 U.S. dollars, with the same period last year compared to 151,000,000 U.S. dollars fell by nearly 60%.
As a result, Yahoo plans to cut 10 percent of all employees, the number will exceed 1,500, more than previously expected 50% higher than the number of people.
Co-founder and chief executive officer of Yahoo Jerry Yang, said: "in the third quarter, we have taken means operators will bring short-term operating cash flow positive at the same time be able to fully enhance the company’s long-term competitiveness in the process of flexibility And adaptability. "
Yang said the decline in consumer spending is on Yahoo’s profit in the first quarter to reduce the main factors, the company hopes, through layoffs and other measures saving 400,000,000 U.S. dollars of expenses.
Yahoo is expected to, or the number of layoffs will be higher than expected, reaching more than 2,000 people. Yahoo trying to reduce spending in order to save the existing assets.
Yahoo President Sue Decker, said: "We are on the cost structure in-depth reflection, to come here looking for opportunities to improve efficiency and build a more powerful Yahoo."
The news caused Yahoo investors worried about the radical Carl Icah) and British Petroleum Investment Corporation Chief Executive Officer T. Boone Pickens forecast Yahoo, Microsoft may eventually be acquired.
The layoff news Yahoo shares edged up more than 12 dollars, but this is still only half of its share price more than last year.
