Yahoo to announces major job cuts this week

In yet another sign of the Great Depression II recession economic downturn, Yahoo is expected to announce a big, new series of layoffs -- around 15% of the Sunnyvale-based company's workforce. Last week Yahoo saw its stock plummet to a 5-year low of $11.37, with the shares entering this week at $12.90. Maybe the noble gesture of shunning Microsoft's $47.5 billion takeover offer last May wasn't so noble after all?