Yahoo! Inc. reported results for the third quarter ended September 30, 2008 and it’s not fun. The search company earned $54.3 million, or 4 cents per share, down by 64 percent from $151.3 million. It was off by 9 cents per share based on projections by analysts.
Because of this, Yahoo! is cutting 10 percent of its employees as part of its plan to implement cost cutting measures towards saving $400 million.