Add
YHOO to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| YHOO > SEC Filings for YHOO > Form 8-K on 21-Oct-2008 | All Recent SEC Filings |
21-Oct-2008
Results of Operations and Financial Condition, Costs Associated with Exit or Disposal A
On October 21, 2008, Yahoo! Inc., a Delaware corporation ("Yahoo!" or the "Company"), announced its financial results for the third quarter ended September 30, 2008 and certain other information. A copy of Yahoo!'s press release announcing these financial results and certain other information is attached hereto as Exhibit 99.1.
The information in this item and Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of Yahoo! under the Securities Act of 1933, as amended, or the Exchange Act.
On October 21, 2008, the Company reported its plans to significantly reduce its costs.
As part of its cost reduction initiatives, the Company expects to reduce its global workforce by at least 10 percent by December 31, 2008. The Company expects to incur cash charges related to the workforce reduction for severance and other related costs. In addition, the Company expects to incur cash costs related to contract terminations and consolidation of facilities as part of these cost reduction initiatives. Total charges are expected to include these cash costs and may also include charges or credits related to stock-based compensation expense and charges related to non-cash impairment costs.
The Company expects to recognize the foregoing charges during the fourth quarter of 2008 and during 2009 but is unable, at this time, to estimate the amount of cash and total charges, including non-cash impairment charges (if any), it will incur.
The disclosures above under Item 2.05 of this Current Report on Form 8-K relating to the cost reduction initiatives are also responsive to Item 2.06 of this Current Report on Form 8-K and are hereby incorporated by reference into this Item 2.06.
(d) Exhibits.
The following exhibit is furnished with this report on Form 8-K:
99.1 Yahoo! Inc. Press Release dated October 21, 2008.
|
|