SANTA CLARA, Calif. (AP) — Yahoo CEO Carol Bartz assured shareholders that the slumping Internet company will "get our mojo back" as she tries to end a three-year slump that confounded her two predecessors.
Bartz made the pledge Thursday during her first shareholder meeting since Yahoo hired her six months ago.
In the mostly amiable one-hour meeting in Santa Clara, Bartz also told shareholders she won't talk publicly about Yahoo's on-again, off-again talks with Microsoft unless the two rivals make a deal.
Yahoo Inc. rejected a $47.5 billion takeover bid from Microsoft Corp. last year, infuriating many of its shareholders. Microsoft has since explored buying Yahoo's search engine, but Bartz has downplayed that possibility.
by the associated press
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Showing posts with label Yahoo. Show all posts
Showing posts with label Yahoo. Show all posts
Saturday, June 27, 2009
Sunday, June 21, 2009
Yahoo $34M for layoffs
SUNNYVALE, Calif. (AP) — Yahoo Inc. says laying off nearly 700 workers will cost between $30 million and $34 million in severance pay and other related expenses.
The layoffs, which affect about 5 percent of Yahoo's workers worldwide, were announced in April.
They were the first significant cuts since new CEO, Carol Bartz, joined Yahoo in January, but mark the Sunnyvale-based company's third round of reductions in the past 16 months.
Yahoo says it will also gain between $7 million and $8 million related to forfeited stock and options. In all, the company says it expects to write down $22 million to $27 million in the current second quarter.
Yahoo disclosed the charges in a Securities and Exchange Commission filing Friday.
by the associated press
The layoffs, which affect about 5 percent of Yahoo's workers worldwide, were announced in April.
They were the first significant cuts since new CEO, Carol Bartz, joined Yahoo in January, but mark the Sunnyvale-based company's third round of reductions in the past 16 months.
Yahoo says it will also gain between $7 million and $8 million related to forfeited stock and options. In all, the company says it expects to write down $22 million to $27 million in the current second quarter.
Yahoo disclosed the charges in a Securities and Exchange Commission filing Friday.
by the associated press
Wednesday, May 20, 2009
Yahoo's new Web
SAN FRANCISCO — Yahoo plans to show fewer links to other Web sites as it strives to provide more immediate gratification in its Internet search results and lure traffic from the market leader, Google.
The changes previewed Tuesday are part of Yahoo’s two-year effort to better understand its users’ intentions so the first page of its search results contains all the vital information sought in a query.
Depending how tests go, some search results later this year may feature nothing but images of landmarks or video, if Yahoo’s technology believes that will satisfy an individual user. Yahoo has been losing ground to Google in the lucrative search market for years.
The changes previewed Tuesday are part of Yahoo’s two-year effort to better understand its users’ intentions so the first page of its search results contains all the vital information sought in a query.
Depending how tests go, some search results later this year may feature nothing but images of landmarks or video, if Yahoo’s technology believes that will satisfy an individual user. Yahoo has been losing ground to Google in the lucrative search market for years.
Wednesday, April 22, 2009
Yahoo plans to fire 600 employees
Yahoo Inc. will lay off more than 600 workers after getting off to another bumpy start under a tough-talking new boss who has promised to engineer a long-awaited turnaround at one of the Internet's best-known franchises.
Neither the lackluster first-quarter results nor the job cuts announced Tuesday came as a surprise.
Analysts had already predicted Yahoo's three-year slump would worsen during the first three months of the year, and hints about the payroll purge were leaked to the media last week.
This marks Yahoo's third round of mass layoffs in a little over a year, but the first batch since the Sunnyvale-based company hired technology veteran Carol Bartz as its chief executive in January.
Yahoo dumped about 1,000 jobs in February 2008 and another 1,500 or so late last year while co-founder Jerry Yang was still running the company. Yang stepped down, largely because he wasn't able to snap the company out of its financial funk during his 18-month tenure as CEO.
The misery worsened in the first quarter as skittish advertisers spent less on their Internet marketing campaigns.
Yahoo earned $118 million, or 8 cents per share, during the first three months of the year. That represents a 78 percent drop from net income of $537 million, or 37 cents per share, in the year-ago period.
Last year's results included a non-cash gain of $401 million. But Yahoo's profit this year still would have been lower even after subtracting last year's one-time boost.
The latest earnings matched the modest expectations among analysts surveyed by Thomson Reuters.
Revenue fell 13 percent to $1.58 billion. If not for the stronger dollar, Yahoo said its revenue would have been down by 8 percent.
After subtracting commissions paid to its ad partners, Yahoo's revenue stood at $1.16 billion — about $50 million below analyst estimates.
Yahoo shares gained 15 cents in Tuesday's extended trading after rising 72 cents, or more than 5 percent, to finish the regular session at $14.38.
Investors have been hoping Yahoo will be able to make more money by forging an online advertising partnership with Microsoft Corp. Executives from both Yahoo and Microsoft reportedly have been stepping up their negotiations as the two companies try to counter Internet search leader Google Inc.'s domination of online advertising.
by the associated press
Neither the lackluster first-quarter results nor the job cuts announced Tuesday came as a surprise.
Analysts had already predicted Yahoo's three-year slump would worsen during the first three months of the year, and hints about the payroll purge were leaked to the media last week.
This marks Yahoo's third round of mass layoffs in a little over a year, but the first batch since the Sunnyvale-based company hired technology veteran Carol Bartz as its chief executive in January.
Yahoo dumped about 1,000 jobs in February 2008 and another 1,500 or so late last year while co-founder Jerry Yang was still running the company. Yang stepped down, largely because he wasn't able to snap the company out of its financial funk during his 18-month tenure as CEO.
The misery worsened in the first quarter as skittish advertisers spent less on their Internet marketing campaigns.
Yahoo earned $118 million, or 8 cents per share, during the first three months of the year. That represents a 78 percent drop from net income of $537 million, or 37 cents per share, in the year-ago period.
Last year's results included a non-cash gain of $401 million. But Yahoo's profit this year still would have been lower even after subtracting last year's one-time boost.
The latest earnings matched the modest expectations among analysts surveyed by Thomson Reuters.
Revenue fell 13 percent to $1.58 billion. If not for the stronger dollar, Yahoo said its revenue would have been down by 8 percent.
After subtracting commissions paid to its ad partners, Yahoo's revenue stood at $1.16 billion — about $50 million below analyst estimates.
Yahoo shares gained 15 cents in Tuesday's extended trading after rising 72 cents, or more than 5 percent, to finish the regular session at $14.38.
Investors have been hoping Yahoo will be able to make more money by forging an online advertising partnership with Microsoft Corp. Executives from both Yahoo and Microsoft reportedly have been stepping up their negotiations as the two companies try to counter Internet search leader Google Inc.'s domination of online advertising.
by the associated press
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