December 5, 2006

According to some news leak, Yahoo plans to host a private, internal Webcast only for top executives after the close of trading today.

The news leak added that some insiders are expecting major and important news for the Number 2 search company.

Such news could include large layoffs or perhaps the departure of Yahoo CEO Terry Semel, who has come under growing criticism for the company's dismal performance, according to the source.

Yahoo has been beaten down in the past few months, particularly following the public release of an internal company memo titled the "Peanut Butter Manifesto."

In Yahoo's (confidential!) memo, senior executive Brad Garlinghouse called for massive layoffs and a revamping of the company's overall business strategy.

Several Yahoo executives have also left the company in recent months. Those include former CBS executive David Katz, who was heading up the company's Sports and Studios division.

Yahoo's stock price has dropped about 30 percent since the beginning of this year. It was trading late today at $27.35.

The news source quoted that the announcement could also be a major acquisition, given the attention the Webcast has received inside Yahoo's corporate headquarters.

Source: C-Net News