Report: Embattled Yahoo to plan more layoffs

By on

Yahoo is said to be planning a new round of layoffs from the embattled company, the first for the new chief executive Carol Bartz, who succeeded co-founder Jerry Yang (who remains in the company as “Chief Yahoo”), according to the New York Times, quoting unnamed sources.

The layoffs could be announced as early as Tuesday, when Yahoo is expected to report its first quarter results for this year (Q1 2009), and could affect several hundreds of employees. Yahoo has declined to comment, citing policy not to discuss speculation and rumours.

The company previously had cut 1,000 employees in early 2008, with an additional 1,400 jobs going in the forth quarter of 2008 (Q4 2008), in an effort to limit expenditure in the troubling economy.

Yahoo’s growth has been slowed down in recent years, after losing its market share in advertising and in search. It also missed several opportunities to acquire sites like YouTube and Facebook, both becoming popular sites for younger web users. It also missed a chance to be bought out by Microsoft, after Jerry Yang and the board opted to reject the bid – sending Yahoo’s share price in a freefall.

Reports have also indicated that Yahoo is looking to sell some of its business units that do not meet the core mission that Yahoo has, including recruiting site Hotjobs.

Thanks for coming onboard!
We're excited to have you.