And they were doing so well, too. Yahoo! has confirmed that it plans to cut 1000 jobs, following quarterly profits that were down 23% on the same period last year.
This is a bit of a shocker, given that they seemed to be buying all the cool companies like del.icio.us and Flickr, and slowly making ground on Google in the search market.
A thousand people sounds like a lot, but Yahoo actually employs over 14,000 (who knew?). Still, it could be a warning sign for web companies, some of which still bear the scars of the 2000 dot-com crash – exciting times could be on the way…
(Image: from Franco Felini’s flickr stream)