Yahoo plans on firing 650-700 employees today. That's approximately 5% of the work force.
Advertisement
It's an entirely miserable and depressing event this close to Christmas.
The firings will be spread across the company, but concentrated in the product group, which is run by Blake Irving.
Yahoo is making the cuts to make its financial targets.
Advertisement
Maybe it doesn't need these employees, but it sure seems like a weird group to cut from. Without people making great products for Yahoo what chance does it have to come back from the dead?
See Also: Carol Bartz Has A Year To "Shake Up" Yahoo, Or She Loses Her Job
