ADP Footnote: Yahoo To Lay Off 10-20% Of Employees On December 13th

Tyler Durden's picture

All Things Digital validates a previous rumor that Yahoo will layoff 10-20% of its employees 10 days before Christmas, on December 13. This means about 2,500 will be likely laid off out of the firms' current 14,100 global employees. Surely this will result in a record NFP number next month as layoffs now result in an exponentially greater positive workforce addition per the latest BLS methodology.

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Dr. Engali's picture

They can start with their pro government propaganda cheerleaders that they call writers and contributors  on yahoo finance. What a waste.

SheepDog-One's picture

Yahoo!Finance writers are the biggest joke around definitely.

unwashedmass's picture

But, but...saving the big banks...that was supposed to stop this, right?

Look at the ffront page of the NY Times right now.....

They have a comments section......time to give them a little bit of what the Zero Hedge crowd thinks about such blatant propaganda.

AR15AU's picture

Yahoo finance will post some article pumping the GM IPO and then when people start coming in and commenting on what a scam the IPO was, they suspend the comments and all you get is "server error" when trying to post.

Why do Yahoo finance articles get so many "server errors" when a small shop like zero hedge can have comments enabled without much trouble? LOL. 

oklaboy's picture

nauuuu, ya don't say. Wait till Q1 layoff's are announced sector wide. It's gonna be great fun!

Eternal Student's picture

What Tyler conveniently failed to mentioned is that Yahoo and other tech giants are STILL claiming that they can't find tech talent, in their eternal efforts to bring in more cheap labor via H1-B's. You won't see any mention anywhere of how many H1-B's they are getting rid of.

In short, the logic boils down to: they can't find the tech talent they need, so they will have to get rid of more full time local tech workers.

Another thing you never see mentioned is the fact that, if they eliminated all of the people here on an H1-B visa, and replaced those workers with IT people who are unemployed, the unemployment rate in the Tech industry would be very significantly reduced, if not nearly eliminated.

But it's all about cheap labor.

Buck Johnson's picture

At my place of work we see more and more international engineers working for the company and less americans.  They get them with the H1 visas and they got them for so many years and they don't pay them nearly as much as an american would want for the position.  As one person put it, yes it is hard to find technical workers especially if you want them to work 60 or 70 hours a week at minimum wage.

Cdad's picture

State Street bank to layoff 5% [1400] of its employees.  Apparently, banking...not so good.  No?

Rick64's picture

This is the way corporations say Merry Christmas.

gwar5's picture

Chang should have sold to Balllmer when he had the chance.

SheepDog-One's picture

2-3 million fall off UE/food stamp rolls monthly from here on out...keep on rockin the free world!

YHWH's picture

I love the sound of layoffs in the morning.  It sounds like... profits.

Arius's picture

just on time for the

Teaser's picture

Um, why is yahoo still in business?  Lay them ALL off.  Yahoo is GIANT FAIL!

ziggy59's picture

See, on Thrae, The Bizarro World, everything is backwards.

Yogi Berra would be President.


increased unemployment = more workers for the unemployed..oh yeah..this insanity is getting serioUS




SteveNYC's picture

"Oh, about that Christmas bonus (boned-ass) you were expecting...."

Vampyroteuthis infernalis's picture

I have been searching for work on and off for years now. There are many job openings for positions that maybe 6 people worldwide could fit the skill set. 2 of them work for the company, 2 of them work for the competitor and the other 2 were laid off a year and a half ago. Since corps. refuse to train, they wine and bitch about a lack of "trained workers". They can go to hell! It is their own damn fault they can not find a highly trained worker willing to work 60 hour weeks at minimum wage.

Oh regional Indian's picture

Corporations are without heart. Spare me the Shareholder value creation lie that has been sold up and down th eworld regrding american corporate culture.

Spare me too the vacuous argument that this is after all about money, people be damned.

Maybe it's time for the tech giants who were birthed in the great lie of the .con revolution to just go away.


boeing747's picture

Chinese Official Newspapaer hints 'Goldman Sach' casued ShangHai stock 5% drop on Nov 12. Maybe it's warning for those hot money try to buy Chinese stocks at cheap.

jmc8888's picture

They still got the best, easiest, cheapest (tied of course), indepth, and with free live stat tracking now...fantasy football.

I still use them for that. 

Looks like 14,100 employees won't be going 'Yaaaaahhooooooooooooooo' this xmas.

NOTW777's picture

wonder if they will cut back on censors

VicariouslySelfActualized's picture

Hmm, didn't Bartz make $47 million in 2009?