当然，广告客户也不太可能在现在这种情形下增加开支，所以我们假定会有一段长期的疲软时期。

　　I don’t think anyone is going to be immune，even though search performance ads are probably more able to withstand a downturn in spending.

　　我觉得没有人能幸免，尽管捜索广告似乎更有抵抗力。

　　What was good for us was that our search and our performance display businesses were both up in the quarter.

　　我们能看到的好的方面是，在这个季度，我们的搜索和图片广告仍然坚挺。

　　Any more details about the layoffs and other cuts?

　　能告诉我们一些裁员和缩减开支的细节吗？

　　We want to do it before the holidays, which is why we wanted to let people know that it would affect 10 percent of Yahoo’s work force.

　　我们计划在假期前裁员，我们想让大家知道会有10%的员工受到影响。

　　But we also want to make sure that we are cutting to be more effective and not cutting for cutting’s sake.

　　但是，我们也希望大家知道，裁员是为了提高效率，不是为裁员而裁员。

　　We have been growing costs for the last few years while we were investing in new products and platforms, and we have also made a lot of acquisitions and additions.

　　最近几年，随着投资新产品和平台、收购的发展，我们的开支也增加不少，

　　There have been redundancies and geoconsolidation that we had not addressed that we are doing now.

　　我们的业务出现一些重复和地区冲突，我们现在要解决这些问题。

　　I know that sounds generic, but doing this is really important.

　　我知道这听起来没有什么特殊的，但这确实很重要。

　　I look at these cuts as both a short-term and long term effort.

　　缩减开支是我们短期，也是长期的努力目标。

　　In the short term, we have consolidation and organizational corrections to make.

　　短期来讲，我们需要合并一些业务，对组织结构进行调整

　　In the long term, we will look at our whole portfolio and are now asking ourselves in each case if we need to be in this business.

　　长期来看， 我们会关注我们的整体资产状况。我们 一直问自己这样一个问题：我们是否需要这项业务？

　　We're asking ourselves—should we sell it or should we shut it down?

　　我们这样问自己，我们是要卖掉它呢，还是废止它？

　　That is the kind of comprehensive look we are doing across the company.

　　这是我们正 在全公司做的综合考虑。

　　What about acquisitions? Everyone knows you are talking to AOL, but what else are you thinking about here?

　　收购的事进展如何？人人都知道，你在和美国在线网谈，你还有什么打算？

　　I am not going to comment specifically on AOL.

　　这件事儿我并不想详谈。

　　But, in general, when the market is going through what it is going through, we have to be making adjustments all the time, because things are different than they were even three or four weeks ago.

　　但总的来讲，市场走到现在，我们必须时时修正方向，因为现在的情况和三四周前已经大不一样。

　　But I like a lot of things we have going for us in the current situation.

　　但我对我们在这种情形下正在做的很多事情都保持乐观，

　　We have no debt. We have a strong cash position.

　　我们没有负债，现金充足，

　　You have to ask what is going to happen to a lot of companies when there is not a lot more money to be gotten.

　　很多公司到了快没钱的时候就不得不问自己该怎么走，