Archive for the ‘Job Cuts’ Tag

Apple UP. Yahoo! DOWN.

Apple & Yahoo! Financial Results

This week saw 3rd quarter results announcements from many companies including Apple and Yahoo!.

While Yahoo! were announcing a 10% workforce reduction, a 64% drop in profits, and an overall goal to cut expenses, Apple were showing optimistic results for the 3rd quarter that ended in September 2008.

Apple, along with its iPhone, is now considered to the be 3rd largest phone distributor behind Nokia and Samsung. Additionnally, iPod and Mac sales were still going strong, and as a result, Apple posted net quarterly profit of $1.14 billion, or $1.26 per diluted share.


Over 1,000 Jobs to be Cut at Yahoo!



Yahoo! and their employees have all been suffering from the tough financial climate in the U.S. since the beginning of 2008.

We should be hearing from Yahoo! tomorrow as they will be announcing their plans to cut on expenses and avoid loosing to much ground over #1 competitor Google. This will also include many job cuts; as much as 1,000 to 3,000 jobs will be lost before the end of the year.