Yahoo Planning Layoffs As Google Raises Pay, Bonuses
SUNNYVALE, CA - JANUARY 22: The Yahoo logo is seen on a sign outside of the Yahoo Sunnyvale campus January 22, 2008 in Sunnyvale, California. Yahoo is poised to lay off hundreds of employees in hopes of increasing profits and boosting its stock price. No date is set for the layoffs but it is likely that the notice will come around January 29th when the company reports quarterly earnings. (Photo by Justin Sullivan/Getty Images)
Updated at 9:48 AM CST on Friday, Nov 12, 2010
A rising (compensation) tide usually raises all ships, er, wages. Like when Google ups its pay by 10 percent of each of its 23,000 employees.
But your ship doesn't rise if you've a leak or two in your hull. So Yahoo is cutting jobs, mostly in its product division, as first reported at TechCrunch.com and then at AllThingsD.com.
The cuts were thought to be worse than they apparently are: now rumored at 10 percent, as opposed to the 20 percent first reported.
Given the top-level brain drain (a debatable term for some) and this cut, it's not surprising that Wall Street has sharpened their pencils when it comes to YHOO.