According to reports, Yahoo, the Web’s once-dominant search site, is planning to layoff between 650 and 700 employees–or around five percent of the company’s staff. The layoffs are said to be spread across the company, but primarily occurring in its product group.
The massive staff cut is an attempt for the company to hit financial targets–really unfortunate timing, 10 days ahead of Christmas. The latest cut is the fourth in three years–two of which have occurred in the two years since Carol Bartz was hired on as the company’s CEO. The layoffs have been rumored for a number of months now.
Bartz, for her part, is still outwardly confident that the company is improving under her watch.
Yahoo services, meanwhile, have been experiencing some downtime–no word on whether this is related to today’s news.
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