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Yahoo! employees get pink slips for Christmas

Big severance packages cushion the blow

| Business, Financial & Legal News | Posted: Dec 15, 2010 4:45 am

The rumblings have been going around for a couple months now, and now it looks like the Yahoo! Downsizing is official. The big time web company is laying off around 4% of their workforce, making the fourth time in three years that Yahoo! Has downsized their staff.

 

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Around 600 people lost their jobs, but reports are showing that the severance packages were fairly lucrative. Reports of six week vacations and job placement have been reported, but that can't soften the blow of losing your job during the holidays much. Yahoo! has been losing their battle for search supremacy to Google and even Facebook.

 

Yahoo's official statement included the quote: "Today's personnel changes are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace,"

 

NEWS SOURCES:Google.com

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