Yahoo! is preparing for its first big round of layoffs since the 2001 dot.com bust, the New York Times reports, seeking to narrow its focus, increase profitability, and revive its tumbling share price. A statement from the company said it planned to "eliminate some areas of the business."
Bloggers have speculated that up to 20% of the company's 14,000 workers could go, but a company source said the job losses would likely be in the hundreds. Executives haven't made a final decision on which areas will be cut, the insider said, although an announcement is expected at the end of this month.