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Yahoo set to let 600-700 workers go
By Michael Liedtke |
December 15, 2010, Wednesday
|
Print Edition
Print Edition
YAHOO! Inc is preparing to lay off between 600 and 700 workers in the latest shake-up triggered by the Internet company's lackluster growth.
Employees could be notified of the job cuts as early as yesterday, according to a person familiar with the plans. The person asked for anonymity because Yahoo hadn't made a formal announcement.
The planned cutbacks represent about 5 percent of Yahoo's work force of 14,100 staffers. It will be Yahoo's fourth mass layoff in the past three years.
The latest two layoffs have come under current CEO, Carol Bartz, a Silicon Valley veteran hired nearly two years ago, despite a lack of experience on the Web or in advertising.
This week's round of cuts is likely to be focused in Yahoo's US products group, which has been undergoing an overhaul.
Yahoo's feeble financial growth, stagnant stock price and recent management defections have raised questions about whether Bartz herself might be shown the door before her contract expires in January 2013.
Employees could be notified of the job cuts as early as yesterday, according to a person familiar with the plans. The person asked for anonymity because Yahoo hadn't made a formal announcement.
The planned cutbacks represent about 5 percent of Yahoo's work force of 14,100 staffers. It will be Yahoo's fourth mass layoff in the past three years.
The latest two layoffs have come under current CEO, Carol Bartz, a Silicon Valley veteran hired nearly two years ago, despite a lack of experience on the Web or in advertising.
This week's round of cuts is likely to be focused in Yahoo's US products group, which has been undergoing an overhaul.
Yahoo's feeble financial growth, stagnant stock price and recent management defections have raised questions about whether Bartz herself might be shown the door before her contract expires in January 2013.
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