Yahoo’s Carol Bartz Meeting UK Team; Where Will The Axe Fall Next?
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Yahoo’s new CEO Carol Bartz has been holding a meeting with all UK staff on the company’s future here, amid speculation it will announce heavy job cuts next week. Yahoo’s London offices were all but deserted when paidContent:UK called several Yahoos today - but one such told us that’s because Bartz invited staff to a big meeting this afternoon.
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What’s on the agenda? Bartz jetted into London amid speculation Yahoo (NSDQ: YHOO) is preparing to announce some hefty job cuts in its Q109 results on Tuesday. The New York Times reported earlier this week that the company would shed “several hundred employees”, adding to the 2,600 jobs the company has axed in the past 12 months.
The company has not yet responded to questions on Bartz’s European trip but several awe-struck London Yahoos and marketers tweeted her visit Thursday.
But does her arrival at such a crucial time suggest UK and Europe could suffer amid any possible cuts? Yahoo is declining to comment on any speculation on either side of the Atlantic.
There has already been some serious downsizing for Euro Yahoos: the company last year moved its European HQ from London to Geneva and has been shutting offices in Dusseldorf, Hamburg, Stockholm, Amsterdam, Oslo and Copenhagen. Last November Yahoo sold price comparison site Kelkoo for less than €100 million just four years after paying €475 million for it. Yahoo may be fighting to hold on to its 16 percent share of the US search market but in Europe it has even a bigger task: as of January it held just six percent of the UK search market compared to Google’s 81 percent and was fourth in Germany behind Microsoft (NSDQ: MSFT) and T-Mobile.
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