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April 21, 2009

Yahoo to cut 5% of workforce amid revenue drop

Internet search company Yahoo Inc. announced Tuesday that it would slash 5% of its workforce as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street’s forecasts.

The company said that the employees being affected in this latest round of cuts would be notified within the next two weeks. Last year, the company cut about 700 jobs on a net basis.

Source: CNNMoney

Yahoo likely to see earnings drop; job cuts possible

Yahoo Inc. is expected to posts declines in both profits and sales when it reports first-quarter results after the market’s close on Tuesday, though investors may be more keen on hearing more about the company’s reported plans for trimming more staff as part of an ongoing restructuring.

Last week, the New York Times reported that “several hundred” employees could be affected by the job cuts, which could be announced alongside Yahoo’s earnings report.

Source: MarketWatch

April 15, 2009

Reports: Yahoo plans more job cuts

Yahoo is planning a new round of layoffs, the first since Carol Bartz became chief executive in January, according to several people with knowledge of the situation.

The layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports first-quarter financial results, said these people, who agreed to speak on condition of anonymity because the plan is confidential.

Source: The New York Times

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