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Posts Tagged ‘All Things Digital’

John Byrne BusinessWeek Departure Rumors Turn True

johnbyrne .jpgWhen false reports of the deaths of Lady Gaga or Jeff Goldblum get blasted all over Twitter, it becomes a trend piece in The New York Times. “The Internet Who Cried Wolf” serves as a gentle reminder that not everything you read online is true.

The media equivalent of course, would be Anna Wintour‘s departure from Vogue. There have been so many rumors, sworn testimonies and first-hand accounts of the editrix leaving Condé Nast that sometimes it seems like she’s hanging on there just to spite the morning’s headlines.

But recently, the magazine departure watchdogs have had a new person of interest: BusinessWeek.com‘s editor-in-chief John Byrne. Except this time, the gossipers were right. Turns out, Byrne is leaving the Bloomberg LP-owned business magazine to launch a digital media company in San Francisco.

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EXCLUSIVE: Yahoo! To Lay Off 1,500 In California on Wednesday; 200 In L.A.

jerryyang.jpgYahoo!, via an email from departing CEO Jerry Yang, told its California employees that on Wednesday, as many as 1,500 employees will be tossed, inside sources confided to FBLA.

yahoosign.jpgNo details were available regarding the email, but one employee who read it said Yang talked about the need to make cutbacks. This was in keeping with his statement in mid-November that Yahoo! would have to layoff as much as 10% of its global workforce. He targeted Dec. 10 as D-Day for these employees.

In her technology blog All Things Digital, Kara Swisher said Yang had told her in October that layoffs were a distinct possibility and described them as “consolidation and organizational corrections.”

“We’re asking ourselves — should we sell it or should we shut it down?” Yang said. “That is the kind of comprehensive look we are doing across the company.”

The layoffs, which could ultimately number as high as 2,000, are generally across the board, but human resources will likely take the biggest hit because their expenses are cost-based and most of their costs are staff.

Swisher said employees will be told Wednesday, but FBLA sources saw the email on Monday afternoon. Staff is supposedly allowing for a “normal seperation period,” but that could mean that employees will have to exit within a few hours of being told.

Swisher’s sources said Yahoo executives are not expecting any serious problems like extremely upset employees because the layoffs have been long in coming. Security will be present, however, at its Sunnyvale headquarters and presumably in Los Angeles.

Most employees do not know if they will be let go yet, Swisher maintained, because the cuts have not yet been made public.

Yahoo! is playing it close to the vest because entire projects might be eliminated and the secrecy allows time to restructure further if necessary.

Swisher conjectures that rumors have surfaced of whole divisions being juggled among the bigger managers presumably to stake out territory before a new CEO is installed.

Meanwhile, Yang has not officially left his slot, though he said last month that he was planning on leaving.