Job cuts slated for Yahoo, EA
Technology companies add to what has been a particularly difficult month for the world's workers.
NEW YORK (CNNMoney.com) -- Yahoo and Electronic Arts have added to the mounting job losses in the global economy.
Yahoo (YHOO, Fortune 500), the Internet company based in Sunnyvale, Calif., said it would begin handing out pink slips Wednesday to streamline costs. The company appears to be following through with plans it divulged in October to cut staff by 10%, which means more than 1,400 job cuts.
What appears to be an internal Yahoo memo, posted on the Web site Valleywag.com, outlined the dos and don'ts that managers are required to observe when informing employees of the cuts: limit the meetings to 15 minutes, get directly to the point without wasting time on small talk, don't "own the employee's feelings" and don't say that you disagree with the decision.
Yahoo officials were not immediately available to comment on the memo.
EA (ERTS), the electronics gaming company based in Redwood City, Calif., announced staff reductions Tuesday as it lowered earnings guidance for fiscal year 2009 .
EA said it would "pursue cost saving initiatives" and make "additional associated headcount reductions and facility consolidations" but did not specify the number of cuts.
Job market trouble is also brewing overseas. The British mining company Rio Tinto said Wednesday it would cut 14,000 jobs worldwide.
December has been a particularly brutal month for the job market, with more than 50,000 job cuts announced so far from a variety of companies across the different industries.
On Tuesday alone, six companies - Sony Corp., (SNE) Danaher Corp (DHR, Fortune 500)., Wyndham Worldwide (WYN), the National Football League, Principal Financial Group and Novellus Systems (NVLS) - announced job cuts exceeding 15,000, although many of the job cuts will be outside the United States.
The U.S. economy lost 1.9 million jobs through November of this year, according to the Labor Department
CNN
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