Yahoo Laying Off 700 Workers

Products division slashing workforce

By Rob Quinn,  Newser Staff

Posted Dec 14, 2010 2:00 AM CST

(Newser) – Some 5% of Yahoo's workforce will get bad news just in time for the holidays. The company, seeking to cut costs amid lackluster growth, will lay off as many as 700 employees today, sources tell AP. Most of the layoffs will occur in its US products division, although there may be cuts in other areas, reports All Things Digital. This is Yahoo's fourth round of mass layoffs since 2007, and insiders are wondering whether CEO Carol Bartz may be next in line for a pink slip.

Yahoo Inc. headquarters in Sunnyvale, Calif.
Yahoo Inc. headquarters in Sunnyvale, Calif.   (AP Photo/Paul Sakuma)
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