Yahoo To Cut More Than 600 Workers
Internet portal Yahoo plans to send a flurry of pink slips out as early as today.
Two sources familiar with the situation say more than 600 employees, or between four-and-five percent of its overall staff, will be laid off. A report of the Tuesday layoffs in “The New York Times” was said to be accurate by a source which indicated they’d be made mostly in Yahoo’s product group. Another source said up to 700 employees may be let go. The layoffs come two years into Chief Executive Carol Bartz’s tenure as Yahoo strives to grow its revenue amid competition from Google and Facebook.