After a tough fourth quarter, Yahoo! has announced plans to shed 1,000 jobs.
Right now it's not known if this is limited to the US or will affect other territories.
As a result of some cautious comments by CEO Jerry Yang, the market slashed 10% of Yahoo's stock price ... driving it down to $18.63
This is a massive fall. At the start of 2006 their share price was well over $40. It hit $30 on the announcement and favourable sentiment re the Panama project ... but has plunged since.
Specifics about the job cuts will be outlined in February.
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Very different story today. Some relief for Yahoo! shareholders, smart move by Microsoft. And before the dust has even settled on Doubleclick, Google's taken their turn to fire back the antitrust question. Gold.
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