Rumor: Yahoo To Cut 3500 Jobs?

For the moment, take it with a grain of salt:  ValleyWag.Com is reporting that inside sources say major job cuts at Yahoo! are coming in early December, just after the company’s Las Vegas themed holiday party at the San Mateo convention center.  It’s difficult to keep info like this quiet for 2 months but the timing seems correct. By now, consultant reports are finished, and as layoffs of this magnitude take some planning and lead time, we’ll know soon enough if there are any additional leaks to back this up.  Until then, Yahoo is trading below $12 a share ,with reporting coming next week and a pending board meeting.  Maybe this is just another effort by Jerry to keep his job — but when Carl Icahn talks about ‘incompetents’ and ‘morons’ running companies, it’s a pretty easy guess who he is talking about. Yang should enjoy the weekend, because next week may be the most difficult in Yahoo history.