Recent job articles
October job losses hit a 14 year high- Where is the bailout money really going? CEO's pockets
- Wall Street expects more than 200,000 layoffs
- Circuit City is closing 150 stores in the United States
- Redundancy Entitlements
- Yahoo is set to cut 3,500 jobs by the end of the year
- Tesla Motors gets a new CEO, layoffs are coming
- Most American corporations don't pay income taxes
- PepsiCo is cutting 3,300 jobs around the world
- Jones Soda is laying off 40 percent of their workers
- UBS Bank is cutting over 2,000 jobs
- Kraft Foods is cutting 400 jobs in North America
- eBay is cutting jobs during hard economic times
- Obama calls for small-business rescue plan
- Thousands of jobs are being lost in the United Kingdom
Yahoo is set to cut 3,500 jobs by the end of the year
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I work in the finance org at Yahoo and have learned that the layoff date is Dec. 10. Finance will be cutting 50% of the workforce, engineering 10%, and sales and the rest of G&A [general & administrative] 25%. The company sent an invitation today for the annual holiday party on December 6 (four days before the biggest downsizing in the company's history ~3,500 jobs). The holiday party is held at the San Mateo Convention center with a Las Vegas gambling theme. [It will] cost millions of dollars. Where is the fiscal responsibility?I guess Jerry Yang feels that maybe he would have better luck betting the whole company on a Las Vegas table than he has at running it. As you reported, our CFO is cutting the severance packages (I guess so he can fund the multi-million dollar holiday party). Employees are outraged and are planning to boycott the party. Maybe they should have surveyed the employees to see if they wanted to attend one party or get better benefits in their layoff packages. My finance peers should get their resumes updated as 50% of us will be leaving.
The departures are already happening, from what we hear. Rojeh Avanesian, the head of finance for Yahoo's Santa Monica-based media group, the operation led by Scott Moore. Avanesian sent this peppy goodbye note to colleagues earlier this week:
To my friends and family at Yahoo, I never thought I'd type these words, but after 7.5 years, tomorrow is my last day at Yahoo. I am extremely fortunate to have worked with such a great group of people. Keep fighting the good fight and take care of each other. I'll cheer for you, I'll miss you, and I hope to see you succeed. More.
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