Yahoo to Fire 3,500 people for Christmas
October 16, 2008
We have a lead that Yahoo plans on firing between 3,500 to 4,000 people right before Christmas, as we reported earlier. Yahoo is not the only one planning on firing, we have a valid source that several advertising agencies on Madison Avenue are also planning layoffs as well, again.. right around Christmas time. Our understanding of the situation has pointed to an advertising (and advertising based, such as Yahoo!) industry wide layoff similar or larger in scope to 2001-2002.
When we say bad people, we are looking at 10-15% cuts across the board…. Meaning that at least 1 person out of 10 are going to receive pink slips in the next 8 weeks, some areas will get hit harder (TV and Print) and less (SEM, SEO, SMO) but overall it’s going to hit everyone to varying degrees.
And to make matters worse, from at least 4 sources so far, the staffers are totally unaware this is about to hit them…
At least 2 NY firms plan on retaining staff until early January and make the cuts then… and the reason we heard — “we don’t want to ruin their Holiday Season” …. that’s especially sinister as these staffers to go out and buy holiday gifts expecting to have a job to pay them off 2 weeks later…
Comments
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http://www.tribbleagency.com/?p=2719 Microsoft : We will not buy Yahoo anymore : Tribble Ad Agency : The Advertising Agency of Record
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http://www.yooter.com/blog/?p=313 Yooter Social Search Media Optimization » Blog Archive » YouTube versus Yahoo… lost causes…
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