Yahoo job cuts due on Wednesday
Published: 09 Dec 2008 13:14 GMT
Yahoo chief executive Jerry Yang noted in his post-quarterly earnings email to employees in late October that those affected by the 10 percent cut in the company's workforce would be "notified of layoffs in the next several weeks" — that is, before Thanksgiving on 27 November.
Apparently it took a little longer to go through the approximately 1,430 positions.
A report on Dow Jones's AllThingsD site notes that the pink slips are expected on Wednesday morning and will be across the board.
While Yang, in the most recent earnings report call, noted that further layoffs could occur in 2009, AllThingsD, citing an anonymous source, said that an additional 500 positions may be cut through attrition and a hiring freeze.
With the move to cut 10 percent of its staff, Yahoo join the ranks of a number of other companies that are paring down their workforce as a means to offset a hit to revenues as a result of the economic downturn.
Credit: Report: Yahoo layoffs to come Wednesday from CNET News
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