Axe swings at Yahoo! again

Yahoo Inc. is preparing to lay off between 600 and 700 workers in the latest shake-up triggered by the internet company’s lackluster growth. Employees could be notified of the job cuts soon, according to a person familiar with Yahoo’s plans. The person asked for anonymity because Yahoo had not made a formal announcement. The planned cutbacks represents about 5% of Yahoo’s work force of 14,100 employees. It will mark Yahoo’s fourth mass layoff in the past three years.

The latest two housecleanings have come under the company’s current CEO, Carol Bartz, a Silicon Valley veteran hired nearly two years, despite a lack of experience on the web or in advertising, Yahoo’s main source of revenue. This week’s round of reductions is expected to be concentrated in Yahoo’s US products group, which has already been undergoing an overhaul since Bartz hired former Microsoft Corp executive Blake Irving to run the division at last spring. The job cuts won’t come as a shock. News of the layoffs was first reported last month by two popular technology blogs, TechCrunch and All Things Digital.

Yahoo’s feeble financial growth, stagnant shock price and recent management defections have raised questions about whether Bartz herself might be shown the door before her contract expires in January 2013. The company’s revenue had edged up by less than 2% to $4.8 billion through the first nine months of the years, reflecting the difficulty Yahoo has had selling ads while other internet companies such as Google Inc and Facebook are thriving.

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Happiness is all about earning others!

Money can buy you happiness, only if you earn more of it than your friends, scientists say. A study of life satisfaction in dozens of countries found that contrary to popular perception, economic growth does not bring with it a corresponding long-term rise in happiness.

While people may feel more positive in the short-term, the shine quickly wears off, found the study by researchers from University of Southern California. However, they found that the rich are happier than the poor within an individual country, the Daily Mail reported.

This implies that what matters is earning more than others, not the actual amount earned, said Professor Richard Easterlin, who led the study. Professor Easterlin first coined the theory in the 1970s which became known as the Easterlin Paradox. With several recent studies challenging his findings, Professor Easterlin again set out to examine if this pattern still exists. After crunching together figures from 37 countries around the globe, he said little had changed.

Easterlin said, “Simply stated, the happiness-income paradox is this: at a point of time both among and within countries, happiness and income are positively correlated. But, over time, happiness does not increase when a person’s income increases.

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