Yahoo! stock drops like a rock

Yahoo is in for a beating in face of the Google threat — everything from Layoffs to a not so sexy outlook are spooking investors….

Layoffs – the company would complete a “strategic workforce realignment” by next month that would lead to 1,000 job losses, or 7 per cent of the total. That amounts to the first big bloodletting at Yahoo since early this decade

Yahoo’s shares slumped in after-market trading on Tuesday as the internet company issued a downbeat outlook for this year reflecting its struggles to revamp its core online services.

The latest 11 per cent decline took the total fall since an October high to 45 per cent and pointed to Wall Street’s growing doubts that co-founder Jerry Yang, who stepped into the chief executive chair last year, can revive the fortunes of one of the brightest stars of the internet’s first decade.

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