Yahoo’s slightly higher net revenue was something of a relief to investors, said Robert Hof in BusinessWeek online, but that’s “cold comfort to some 1,500 Yahoo employees who will be laid off” before year’s end. Yahoo’s search advertising revenue was up 20 percent, but the company made a “hefty cut” to its quarterly forecast. The news could have been worse, but the layoffs will certainly “hurt morale” and might quicken the exodus of talent.
Actually, the job cuts were Yahoo’s “most encouraging news,” said Fortune’s Yi-Wyn Yen in CNNMoney. But while investors liked the cost-cutting, “it’s hard to see how Yahoo can slash its way back to greatness,” if there’s even a path left. Yahoo’s rejection of Microsoft’s takeover bid rankles some investors, and an ad deal with Google is “tied up by the feds.”
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