Yahoo staff face more redundancies today
By David Lawsky, Reuters,
Yahoo is expected to announce a fresh round of redundancies today, following through on plans announced in October to reduce its workforce further to cut costs.
According to sources close to the situation, as many as 1,500 jobs – roughly 10 per cent of the workforce - could be lost, with areas of the business including human resources and finance set to be the hardest hit.
Chief financial officer Blake Jorgensen said in October that Yahoo would be prepared to cut jobs and other expenses further in 2009 if the economy continued to deteriorate.
Yahoo will cut its workforce in high-cost markets such as the UK and US, instead hiring aggressively in lower-cost territories such as Eastern Europe, India and Southeast Asia, the company has said.
The highest-profile personnel change has not yet occurred. Chief executive Jerry Yang said in November he would leave the company, after facing strong criticism for his leadership. That change will take effect when a replacement is named.
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