Yahoo! cutting one percent of workforce

Jan 25, 2011
A Yahoo! sign is seen in Times Square. Yahoo! said Tuesday it is laying off one percent of its workforce, or some 130 employees, in the latest job cuts at the struggling Internet portal.

Yahoo! said Tuesday it is laying off one percent of its workforce, or some 130 employees, in the latest job cuts at the struggling Internet portal.

"The personnel changes we are making are part of our ongoing strategy to best position ! for revenue growth and margin expansion." a Yahoo! spokeswoman said in a statement.

"We'll continue to hire on a global basis to support our key priorities," she said.

The spokeswoman said Tuesday's layoffs concern "approximately one percent of the global employee base" at Yahoo!, which has over 13,000 employees according to the company website.

The announcement of job cuts came just hours before the Sunnyvale, California-based Yahoo! was to announce its fourth quarter results.

Yahoo! announced in December that it was cutting some 600 jobs in the third wave of layoffs at the company since late 2008.

Yahoo! has been seeking to carve out an identity as it struggles to compete with and on the Web.

Explore further: Netflix goes live in France as part of Europe expansion

add to favorites email to friend print save as pdf

Related Stories

Yahoo plans first major layoffs under new CEO

Apr 15, 2009

(AP) -- Yahoo Inc. is gearing up for its third round of mass layoffs in 14 months, signaling the long-slumping Internet company is still struggling to snap out of its financial malaise under a new leadership team.

Yahoo paints brightening picture through 2013

May 26, 2010

(AP) -- Yahoo expects to make more money than management previously pledged as the slumping Internet company attracts more online advertisers and reaps savings from an upcoming search partnership with Microsoft.

Yahoo CEO pledges to boost profit margins

Nov 10, 2009

(AP) -- Yahoo Inc. Chief Executive Carol Bartz promised Tuesday to turn around the struggling Internet company after this year's "terrible" performance.

Recommended for you

German court lifts ban on Uber car pick-up service

1 hour ago

The controversial but popular car pick-up service Uber claimed a victory in Germany on Tuesday when a court threw out an injunction levelled against its operations in Europe's biggest economy.

Oligarch buys Russia's most popular social media (Update)

3 hours ago

A media company owned by Kremlin-friendly oligarch Alisher Usmanov has splashed out $1.5 billion to gain full control of Russia's most popular social network, VKontakte, bringing an end to a months-long dispute ...

User comments : 0