You'll be missed, Yang tells sacked Yahoo staff

NEW YORK: Jerry Yang, the Yahoo Chief Executive who has put in his papers, has told thousands of sacked employees that they would be "missed".

"... To those who are leaving us, I extend my heartfelt thanks on behalf of Yahoos everywhere -- you will be missed," Yang wrote in an internal memo.

The internet major recently said the company would cut staff strength by 1,500, about 10 per cent of its global workforce, in the wake of the deteriorating financial turmoil.

Yang in November announced he would step down as the firm's Chief Executive but would remain with the company.

He was criticised after he opposed the $47.5 billion takeover bid by software giant Microsoft.

In the memo, stating that most of the company's layoffs are happening in the US, Yang pointed out that this is a tough time for everyone.

"... Saying goodbye to colleagues and friends is never easy. They all are dedicated members of our Yahoo family, who worked beside us and shared our passion.

But as you all know, we must take action to better perform in today's turbulent global economy. While we have found efficiencies in many parts of our business, laying off employees is unfortunately unavoidable," Yang said.

Moreover, the outgoing Chief Executive said that all efforts are being made to support the retrenched employees with severance packages and other services.

Pointing out that the reductions being made are "very hard", Yang added the move is also very necessary for the long-term health of the business.