It seems like the rumors are true, Internet giant Yahoo! announced that it’s laying off 700 staff members because of the bad results of the first quarter of this year, this number forms 5% of the total 13,500 Yahoo! staff. Some news reports suggest that the actual number is 600, and that laid off employees have been already informed.
This is not new to Yahoo!, last year 2,500 employees were laid off, the scary question is, is it going to stop here? We all hope so.
According to a report on Yahoo Finance, Yahoo’s fortunes have been declining since 2005 as Google is dominating the search engine advertising business, in addition to new advertising spaces like Facebook and MySpace. The report also said that Yahoo earned $118 million, or 8 cents per share, during the first three months of the year. That represents a 78 percent drop from net income of $537 million, or 37 cents per share, in the year-ago period.
According to the Pan Arab Research Center (PARC), ad spend in the UAE, the largest domestic advertising market in the Arab world, has dropped by 14% during the first quarter of 2009 compared to the same period last year.
Real Estate advertising dropped by 60%, while expenditure on financial services advertising fell by 46% during Q1 of this year. According to The National newspaper, property advertisers disappeared from the list of the top 12 newspaper advertising spenders, after occupying at least half of it last year.
The explains the tornado that shacked several publishing houses in Dubai, but what about Outdoor? Real Estate catered large proportion of outdoor advertising in the UAE, I’m pretty sure they were hit really bad.
English newspapers witnessed a 23% drop in advertising spends, while ad spends on Arabic newspapers went down by 26%, and 4% in magazines.
Both Egypt and Bahrain witnessed a drop in ad spends by 10% and 9% respectively, while Lebanon and Qatar enjoyed a growth of 42%, the pan-Arab advertising spending also grew-up by 28%.
So what do you know, Manama came 8th on the top 10 sin cities worldwide, the list was issued by AskMen.com, an online male lifestyle magazine. The cities were selected based based on strong presence of gambling, sex, drinking, drugs, and/or partying.
I was surprised to see Las Vegas in the 4th place, I mean it’s known as thee sin city, the only thing I can think of is drugs, for sure it’s not gambling, sex, drinking and partying, cause Las Vegas is like the home of these things!
I heard a lot about Thailand and it seems like Pattaya is entertaining its visitors with whatever they desire, take a look at seem girls there in this picture, hospitality?
But Manama! I mean is it really more open-minded than New York or Paris or Tokyo?
Top 10 Sin Cities
1. Pattaya, Thailand
2. Tijuana, Mexico
3. Amsterdam, The Netherlands
4. Las Vegas, Nevada
5. Rio de Janeiro, Brazil
6. Moscow, Russia
7. New Orleans, Louisiana
8. Manama, Bahrain
9. Macau, China
10. Berlin, Germany
More scary recession news, publishing house DIT Group announced the termination of its operations, not a magazine or two, the whole thing is going down, According to a statement by the acting general manager of the group, low advertising sales were not wholly to blame for the firm’s closure and hinted the move was part of a wider shake-up at DIT’s parent firm Dabbagh Group.
40 employees lost their job, and still waiting for the compensation, but will it really compensate them?
There is no doubt that Obama has been enjoying an overwhelming popularity in the US and across the world, but how long is this dream going to last? Apparently there is a cloud in his horizon after bowing to King Abdullah of Saudi Arabia at the G20 summit.
I was reading on the Arabian Business some of the commentaries made by the US media, pretty cruel for sure, does it have anything to do with recession or Islam, or it’s the same reaction if he bowed to any other leader?
Advertising Agency: zig
Executive Creative Director: Martin Beauvais
Associate Creative Director / Art Director: Jason Hill
Associate Creative Director / Copywriter: Michael Murray
Strategic Planner: Lynn Sivec
Team Leader: Sheri Hachey
Photographer: Michael Graf
Producer: Tristan Tran
It seems like the rumors are true, Internet giant Yahoo! announced that it’s laying off 700 staff members because of the bad results of the first quarter of this year, this number forms 5% of the total 13,500 Yahoo! staff. Some news reports suggest that the actual number is 600, and that laid off employees have been already informed.
According to the Pan Arab Research Center (PARC), ad spend in the UAE, the largest domestic advertising market in the Arab world, has dropped by 14% during the first quarter of 2009 compared to the same period last year.
So what do you know, Manama came 8th on the top 10 sin cities worldwide, the list was issued by AskMen.com, an online male lifestyle magazine. The cities were selected based based on strong presence of gambling, sex, drinking, drugs, and/or partying.
