Yahoo's CEO: So sad to see you go, in all lower-case
Citing a need to "better align costs with revenues," the Chief Yahoo couldn't sound less cheerful, as he told 10% of his workforce that their exit would have a greater positive impact on the company than a negative impact on them.
It hasn't been a week for cheerleading at Yahoo in quite some time, but this week, CEO Jerry Yang -- for whom "outgoing" now has new meaning -- finds himself in the painful position of seeing hundreds of his colleagues out the door for the last time, prior to his own exit.
Here is the text of the memo the CEO sent to his employees yesterday morning:
today, most of our layoffs in the US are happening, and they've been underway in other regions around the world.
this is a tough time for all of us and i wanted to take a moment to reach out to you.
saying goodbye to colleagues and friends is never easy. they all are dedicated members of our yahoo! family, who worked beside us and shared our passion.
but as you all know, we must take actions to better perform in today's turbulent global economy. while we've found efficiencies in many parts of our business, laying off employees is unfortunately unavoidable. our difficult decision to let colleagues go reflects the changes we're having to make to better align costs with revenues -- something businesses in virtually every sector are also having to do.
for those who are affected by these layoffs, i am extremely grateful for your contributions to yahoo!. we realize the impact this will have on you. that's why, consistent with our past practices, we're making every effort to support you with severance packages and other services.
the reductions we're making are very hard, but they are also very necessary -- as we focus on the long-term health of our business. to those who are leaving us, i extend my heartfelt thanks on behalf of yahoos everywhere -- you will be missed.
thanks,
jerry
Yahoo's latest wave of headcount reduction, which impacts about 1,500 employees, was announced late last October.