The last time YHOO traded below $13 was after 9/11 and before the U.S. invaded Iraq. (I live in San Francisco, where even Republicans obsess over these connections.) Henry Blodget, the disgraced stock analyst everyone trusts now, says Yahoo is scrambling to update its layoff plans after watching eBay go first:
Yahoo is now hastily revising its mass-firing plan, upping the number of employees who will be shown the door. The theory: eBay's mass-firing, which had been demanded by shareholders for months, was greeted with Bronx cheers because it didn't go far enough in light of the ongoing global economic crash. Now eBay will like be forced to break the cardinal rule of mass firings: death by an unending wave of cuts.