Story from the Los Angeles Times
April 15, 2009
Internet search giant Yahoo Inc. is planning a new round of job cuts that could affect several hundred employees, according to a person with knowledge of the matter.
The staff reductions at Yahoo could be announced within a few weeks, according to the person, who declined to be identified. A spokesman for Yahoo also declined to comment.
The job cuts would be the first under Carol Bartz, who became Yahoo's CEO in January 2009. The last round of staff cuts at Yahoo, affecting about 1,600 workers, came at the end of 2008.
Yahoo, which is due to report first-quarter 2009 results in the coming days, is cutting costs as it grapples with a sagging online advertising market.
In March of 2009, the Sunnyvale, Calif. internet portal shut its bargain-travel site FareChase and online-storage service Briefcase.
Yahoo reports that it intends to freeze salaries for many employees.
Yahoo CEO Carol Bartz, who became CEO after co-founder Jerry Yang stepped down, announced a broad reorganization in February 2009 aimed at making Yahoo more nimble in a bid to revive growth and challenge search-engine leader Google Inc. Insiders also report that Yahoo is realigning and downsizing in preparation of a merger with or acquisition by Microsoft in the coming year.
Internet search giant Yahoo Inc. is planning a new round of job cuts that could affect several hundred employees, according to a person with knowledge of the matter.
The staff reductions at Yahoo could be announced within a few weeks, according to the person, who declined to be identified. A spokesman for Yahoo also declined to comment.The job cuts would be the first under Carol Bartz, who became Yahoo's CEO in January 2009. The last round of staff cuts at Yahoo, affecting about 1,600 workers, came at the end of 2008.
Yahoo, which is due to report first-quarter 2009 results in the coming days, is cutting costs as it grapples with a sagging online advertising market.
In March of 2009, the Sunnyvale, Calif. internet portal shut its bargain-travel site FareChase and online-storage service Briefcase.
Yahoo reports that it intends to freeze salaries for many employees.
Yahoo CEO Carol Bartz, who became CEO after co-founder Jerry Yang stepped down, announced a broad reorganization in February 2009 aimed at making Yahoo more nimble in a bid to revive growth and challenge search-engine leader Google Inc. Insiders also report that Yahoo is realigning and downsizing in preparation of a merger with or acquisition by Microsoft in the coming year.
Many technical systems at Yahoo are being updated and modified to align and integrate with the Microsoft system and the MSN Live search portal.
