Date: 02-08-2008
Yahoo! Inc. CEO Jerry Yang said in an email that the company is trying to avoid a takeover by Microsoft Corp. “Our board is thoughtfully evaluating a wide range of potential strategic alternatives in what is a complex and evolving landscape,” wrote Yang to company employees. Media sources claim that various companies have advised Yahoo! to opt for alternative strategies such as outsourcing online advertisements to Google. Yang further revealed that no decision has been taken regarding the $44.6 billion deal offered by Microsoft. Yahoo! recently announced its plans to cut 1,000 jobs in order to hike its drooping profits. However, if a Microsoft-Yahoo! deal works out, nearly $1 billion in expenses would be cut as a result of the takeover, which could in turn lead to even more severe layoffs, according to analyst George Askew.
