Yahoo gears up for more job cuts

 

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By Reuters

Posted on 15 Apr 2009 at 09:40

Yahoo is preparing to lay off several hundred workers in the first round of cuts since Carol Bartz became chief executive in January.

Several hundred employees are expected to be affected by the layoffs, which could be announced next Tuesday, when Yahoo reports its first-quarter financial results, according to reports.

Yahoo's last round of layoffs was in December, and occurred under former CEO Jerry Yang.

Yahoo, currently the world's second largest search provider, finished 2008 with roughly 13,600 employees, down by more than 1,600 employees from the third quarter of 2008.

Yahoo declined to comment on the planned layoffs, first reported by the New York Times.

The cuts would come almost two months after Bartz implemented a broad internal management reorganisation and as Yahoo explores partnerships to help revive its growth.

Yahoo and Microsoft met recently to discuss a deal involving the company's search business, as it looks to offset a projected 16% sales drop to $1.53 billion in the first quarter.