Yahoo 'to announce job cuts'

23 January 2008

Yahoo is set to announce hundreds of job cuts in the next few days, according to The New York Times.

Sources close to the company are reported to have said that hundreds of the 14,000-strong workforce would be shed, possibly after fourth-quarter results are revealed on 29 January. The news saw the search giant's share price fall by around 3% yesterday.

The NY Times says that Yahoo declined to respond directly to the question of job cuts, but had provided an email statement: "Yahoo plans to invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don't support the company's priorities."

Speaking at CES earlier this month, Yahoo's CEO Jerry Yang said: "From the newest to the most experienced user, Yahoo!'s goal is to be the simple starting point for a much richer and more complex world so you can get more out of it.

"Whether you're looking for fun, information, entertainment or social connections, you want to experience everything to the fullest - this is living life with an exclamation point."

Last week, Nielsen Online's monthly search share rankings for the US suggested that Yahoo had continued to lose ground in December. The proportion of searchers using Yahoo fell to 17.7%, down from 17.9% in the previous month.

Category: Search engines, Yahoo