I reported this news yesterday at Search Engine Land, in short, Yahoo is expected to layoff thousands of employees and cut costs across the board.
Last time Yahoo laid off employees, we were sad - cause we knew several of those hit with the layoffs. I suspect we will know many of those hit by today's announcement.
It is sad to see this happening, and it is not just Yahoo. Many companies are reducing their work force and dropping cause, in preparation for the recessionary times. Yahoo would have likely done this anyway but now they need to do this possibly at a whole new level.
This post was written on Monday, October 20th and scheduled for Tuesday, October 21st.