“This critical, internal Yahoo memo was being forwarded all over the place late yesterday, and made the WSJ this morning. The author is allegedly Brad Garlinghouse, a Yahoo senior V.P. I’m guessing this was written with full knowledge it would be forwarded outside the company, but it still has some strong statements about Yahoo’s fuzzy strategy, its duplicate properties, and its messy structure. Among other things, it calls for 15-20% cut in headcount, which should get traders busy on Monday.”

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