To restore the company’s fortunes in front of decreasing profits, Yahoo has announced to shed around 1,500 jobs that are 10% of its global workforce.
The company reported a 64% slump in third quarter profits. Yahoo announced 54.3million net profit in 3Q, while it was $151.3m in the same period last year.
Yahoo has rejected a buyout offer from Microsoft earlier this year.
These new results from Yahoo are worse than expected, as its revenues increased just 1% compared to $1.79bn (a year earlier).
In China, economic growth rate drops for the third quarter in succession and there are fears that the economy may see an intense downturn in the coming days.
According to the National Bureau of Statistics, during the 3rd Q the economy grew at a rate of 9% that was 10.1% down compared to previous quarter.
Li Xiaochao, a spokesman from the National Bureau of Statistics, says in this connection, “The government wasn’t expecting such an intense impact of the global financial crisis.”
In any situation, business or otherwise. Safety is always a top priority. It's easy to only think of safety in machine based environments, such as ...read more
