Yahoo! profits plummeted 64 per cent in its latest fiscal quarter - yes, 64 per cent - and the company says it will jettison at least 10 per cent of its workforce by the end of the year. "As we saw the online ad market decline in the third quarter, I decided that Yahoo! needed to accelerate the process of becoming more efficient …
Yahoo! On! Low! Slow! Decline!
Shoulda taken Ballmer's cash.
$ Fifty billion?
The morons should have taken that ludicrously generous offer. Fifty billion for a shit email service and a few crappy ads? Jesus wept, they're arrogant to turn it down. I hope they fail. They're rubbish! And stupid to boot.
I'll bet all of those shareholders
Are glad they voted for Jerry now!
Yang is a class A moron.
Yahoo is done. Where's Jerry's talk of the company being undervalued now? Why is that idiot still at the helm? Why? Why Jerry Yang hasn't been sued by stockholders is beyond me.
It's just such a shame to see an iconic Silicon Valley company slide into oblivion.
Lycos is not bad, I like the after dark swap over.
Thing is the web just evolves, and yahoo is good but obviously not enough revenue is being generated to support the staff bill, and they probably have a load of non techs who have no business being there, just run with the developers makes life a lot simpler.
I kinda like the smaller things of the web, the nook and crannies, these mega sites are a bit dull.
More diversification please :)
Do you Uhoh!
Not a microshaft fan but...
I really hope that they go back with a $13 per share offer.
No value left for MS
Ballmer is obsessed with Google and wanted to be able to beat Google in search, if only temporarily.
When MS was making offers, Yahoo + MS together had more searches than Google. Thus Yahoo had some value to Ballmer because, in his twisted mind, he'd be beating Google at search by combining them.
Now Google is bigger than everyone else combined so MS + Yahoo does not beat Google.
Therefore Ballmer has no use for Yahoo.
Therefore don't expect to see any more MS offers.
Anyone who didn't dump Yahoo shares when MS drove them up is just plain stupid.
Is a title really required?
Nice to see El Reg being true to form again By! Emphasizing! The! Title! Of! Every! Headline! Involving! Yahoo!
Any old irony?
It the fiercely competitive marketplace of selling nothing, Yahoo! has clearly lost the edge. Google, able to sell nothing in volume and at discount rates, has cornered the market - with even industry behemoths like Microsoft being forced to bundle their nothing with retail packages of something in order to ensure turnover.
If this contraction of the nothing market continues, Google will soon have a natural monopoly on nothing. Billions of dollars will funnel into their coffers while a steady stream of Google brand nothing will flow out in response.
More and more of our household expenditure will go into indirectly funding this highly refined but tightly controlled supply of nothing. The little somethings that used to fill our lives with such joy will become scarcer as our lives are swamped by the massive flow of consumer somethings that are propelled, like origami boats, through our lives down the ever-changing, torrential, meme river that is itself driven by the super-climatic forces as a massive high pressure system of Googlised nothing crashes against the vacuum-like low of the human consumer soul.
Who will win the nothing war? Google, probably. Us, most certainly not.
Like The Matrix, we will feel satiated (but not content) and meanwhile, in the real world, Google will be sucking money out a tube in our butt. Don't ask how.
What do you want to kill today?
Investors calling for Jerry's head on a platter might have a tough time getting past the locals. Microsoft would have given $47 billion to investors, raided the customer databases, fired everybody, and stripped the office bare. Employee severance would have early vesting worth $6K to $25K. Having that happen in Silicon Valley during a recession means you abandon your home and leave. You can't get a new job here in a recession before the $3K/month rent or $5K/month house drains your bank account.
Yahoo is geography!
"This may include "relocating some operations to lower cost geographies,..."
Good idea. It's a fact that software development teams are more productive if they are based on an alluvial plain and the best place build a data centre is at the end of a glacial valley.
If I were a Yahoo! shareholder or employee, I'd be pretty pissed off at the moment. I suspect the board were lucky to keep their jobs at the last shareholders meeting, but unless they pull something pretty spectacular out of the hat, I can't see them lasting the next.
@Kevin McMurtrie - contrary to what you say, Yahoo! are now in a much more vulnerable position for asset stripping (which I haven't heard of MS having form for) from the likes of private equity investers. They may only be saved by the global recession.
give the guy a break. he had the cojones to stand up to M$ because he beleived in his company.
Re: Who do you want to kill today?
"Microsoft would have [...] fired everybody, and stripped the office bare."
Whereas Jerry really doesn't *want* to do all these things, so when he has to do it anyway and you get kicked out of your home you'll know that he's Upset and Feels Your Pain.
RE: Any old irony?
A nice bit of analysis.
Paris? Coz she makes money out of doing nothing.
Yahoo is still going?
I can't even remember the last time i visited that "portal".
I think Clinton was still in office.
Wow. That refusal surely had an impact...
It even caused other companies to go down!
Yahoo stock would have been in the shitter now if Ballmer had bought the company. The only difference would be the big shareholders and the CEO would have had a big golden parachute.
Is the issue here that the CEO took the high moral ground here and believed in his company rather than sell it to the sharks and walk away? Do people not like the idea of CEO's acting like this in case we start expecting other CEOs to do the same..?
That image perfectly depicts the facial expressions of 1,400 ex-employees all at once. Had me in stitches. Reg Rocks!
Well!, Jerry! was! right!
Jerry was correct when he said that Balmer's offer did not reflect the true value of Yahoo!
He was waaaay over.
Paris, 'cos we don't know her true value...
"getting Yahoo! more fit"
Great idea, Jerry.
Start at the top, won't you ?
And I expect...
....this has nothing to do with Yahoo's increased .com registration fees since July 2008. I know I've not renewed with Yahoo! and I'm in the process of transferring my domains as and when they come up for renewal. I imagine many others are leaving Yahoo! too.
Joke! Wearing! Thin!
what everyone keeps missing
is that AT&T-Yahoo.com have excellent aDSL, excellent ISP servers and excellent att.yahoo.com email servers that have done an excellent job stopping SPAM into my email accounts with them ...
... last damn thing the millions of AT&T internet customers want is for Yahoo to replaced by MSN and hopefully, *if* Microsoft buys Yahoo, AT&T can break whatever agreement with Yahoo regarding ISP *portal* and whatever use Yahoo makes of AT&T data centers and network capacity
I suspect without AT&T agreements, Yahoo! wouldn't be worth the bits it's written on anyway