Yahoo has fired 600 employees, 4% of their total workforce. Yahoo CEO Carol Bartz who joined the company since January 2009 to make various cutting policies as a way of covering the poor performance of the site. The company also fought hard for their users and advertisers move to Facebook, one of Yahoo's competitors.
Facebook has surpassed Yahoo as the largest company with advertisers in the U.S. last year, according to Virginia-based ComScore.
Not only stop there, Yahoo will shut down several of its Web properties, including Delicious, Yahoo Buzz, and AltaVista, according to a Yahoo presentation slide that was posted on Twitter.
"Part of our organizational streamlining involves cutting our investment in underperforming or off-strategy products to put better focus on our core strengths and fund new innovation in the next year and beyond," a Yahoo spokeswoman said via e-mail. "We continuously evaluate and prioritize our portfolio of products and services, and do plan to shut down some products in the coming months such as Yahoo Buzz, our Traffic APIs, and others. We will communicate specific plans when appropriate." as quoted from Pcmag.com
Yahoo shares gained 6 cents to close Thursday at $16.51. The stock price is down slightly for the year and hasn't come close to approaching the levels it reached during the spring of 2008 when Yahoo was still mulling a takeover offer from Microsoft Corp. Those talks ended after Yahoo balked at Microsoft's last offer of $33 per share in May 2008.
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