Yahoo will drop the axe on December 10, Kara Swisher says, smack in the middle of the holidays (earlier, Jerry said Thanksgiving).
The company is still reportedly planning to can about 1,500 Yahoos. A cut of that size would only roll the company’s workforce back to Q2 levels, and, in our opinion, it would leave Yahoo in a position where it might have to make further cuts next year. This is not the way to set the company up for a clean, fresh start.
In better news, Yahoo and AOL are reportedly far apart on price in their merger negotiations: AOL’s at $6 billion, Yahoo’s at $3 billion. Given how little interest either side has in doing this deal, it would almost certainly be a disaster if they did it, so better to just let it go. (If Yahoo can get AOL for $3-$4 billion, however, it should take it).
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