Yahoo to go for weeklong shutdown

December 22, 2009 · Filed Under News · Comment

In its bid to boost it’s cost saving efforts, Yahoo! announced that the company;’s offices shall remain shut from Christmas to New Year.

This cost-cutting move ends probably the worst year in Yahoo!’s history as the company saw its revenue declining for the first time since 2001.

This shall be the first time in the history of Yahoo! that the company wants most of its 13,200 employees to utilize their unpaid leave during the holidays. During the Dec 25th to Jan 1st period, onlt the employees performing certain essential duties will be working.

The Sunnyvale, California, based internet giant earlier eliminated about 2,000 jobs and shed various other expenses since September 2008 to sail through the worst economic slowdown since the WW II.

Not only this, several other Silicon Valley companies traditionally close most of their offices during the holidays.

Tags: financial crisis, New Year, recession, Yahoo

Recovery to begin soon: Google

June 29, 2009 · Filed Under News · Comment

Here is some good news after a relatively long bad spell.
According to Eric Schmidt, internet search giant’s chief executive, a US recovery is likely to begin this autumn.

Speaking at the Cannes Lions advertising festival in southern France, Schmidt admitted that the worst fiscal downturn since the Great Depression of 1930s was over and it would be “reasonable to be optimistic for 2010.”

“The rate of jobless claims is decreasing although the absolute number is increasing,” he said.

Schmidt however refused to comment on the rumors that said Google had set up a team of engineers to study the technical specifications of Bing, the search engine launched by Google’s archrival Microsoft.

However he did mention, “Bing is a competitor. We have absolutely looked at Bing; we have actually studied what they do as Microsoft studied what Google does.”

Launched less than a month ago, Microsoft’s Bing search engine managed to capture a considerable amount of internet seekers but is trailing Google and Yahoo Inc.

Bing is due to be launched in UK this autumn where as a test version is already available.

Tags: Bing, financial crisis, Gogole, Microsoft, recovery