Archive notice: This article was originally published on January 24, 2008. Links and embedded videos are preserved as part of the historical record.
The Wall Street Journal and New York Times reported that Yahoo! planned to cut several hundred jobs while hiring in priority areas, aiming to return to the current headcount by the end of 2008. The restructuring was intended to improve its position against Google.
The plans were expected to be announced with fourth-quarter results. Yahoo! faced pressure from Google in internet advertising and search, as well as Facebook, YouTube and MySpace. Jerry Yang had taken over from CEO Terry Semel after weak quarters, and Yahoo!’s European activities were also being reviewed.
Although Yahoo! had more US visitors overall, Google led search advertising: ComScore put Google’s November search share at 59 percent and Yahoo!’s at 22 percent. Yang had said the company would focus on core areas and exit some businesses.
