Yahoo! Announces Job Cuts

Yahoo! (YHOO) might just be the Peyton Place of Silicon Valley. A few days ago they filed a lawsuit claiming Facebook violated some of their patents. I thought this was good move, but now Facebook has filed a lawsuit claiming Yahoo! violated some of their patents. Today, 02012.04.04, news agencies are reporting that Yahoo! is firing 2,000 yahoos.

Yesterday I read an article in which a former manager at Yahoo! said the company could cut 25 percent of its work force "without actually cutting much of its capabilities." Of course I don't know if this is true, but it's easy for me to believe it's true.

I don't know Yahoo!'s employee count, but I do know that 2,000 is 14% of 14,000.

Yahoo! says the job cuts will enable the company to "realize approximately $375 million of annualized savings upon completion of all employee transitions."

YHOO closed yesterday (02012.04.03) at $15.18. 52-week range: $11.09 - $18.84. Right now, 6 minutes into trading, the NASDAQ is down almost 1% and YHOO is up a nickel.