More layoffs coming to Yahoo
Yahoo is rumored to be planning to announce more layoffs next week, its third round of cuts in a little more than a year, according to a report Tuesday in The New York Times.
The layoffs could affect hundreds of employees and could be announced as early as April 21 when the embattled search pioneer announces its first-quarter financial results, according to the report.
Yahoo representatives declined to comment on the report.
Yahoo, which finished last year with 13,600 employees, has undergone plenty of reorganizations and executive turmoil in the past year, as well as two major layoffs. Yahoo laid off 1,520 U.S.-based employees in December as well as 52 of 251 employees based in France earlier this year. Those layoffs followed a round in January 2008, in which an estimated 1,100 employees were laid off.
In February, Yahoo appointed Carol Bartz as the successor to Yahoo co-founder Jerry Yang, who under fierce financial pressure announced in November that he would step down as CEO when the company’s board had selected a replacement. Bartz then announced a sweeping reorganization in February aimed at making the Internet pioneer faster, simpler, and more responsive to those who use its services.
Yahoo, which has steadily lost search market share to Google and has been particularly hard hit by the economic recession, has reportedly been in preliminary talks with Microsoft to form a search and advertising partnership.
