This afternoon, Google’s search rival Yahoo announced they are cutting 1500 jobs to cut costs during the current economic downturn. A slump in business, investor discontent and global economic turmoil are said to be the main causes of the job cutbacks, “We have been disciplined about balancing investments with cost management all year, and have now set in motion initiatives to reduce costs and enhance productivity,” Yahoo CEO Jerry Yang said in a statement.
Yang says the move aims to revive Yahoo from it’s current failure to capitalize on emerging trends in online search, such as Social Networking…Read more
October 21, 2008
