"Do you Yahoo?" was the web giant's catchphrase, but not enough people are answering in the affirmative these days. Yahoo has announced that it is laying off 2,000 employees in the hopes of turning around the company. It will be the sixth mass layoff in the past four years under three different CEOs. While previous cutbacks boosted earnings, new CEO Scott Thompson says these will help Yahoo build its strengths — and hopefully keep the company from going under.
Joe Nocera, Op-Ed columnist for our partner The New York Times, says Yahoo should be a cautionary tale for other tech companies like Google and Facebook, who might be next in line.