Yahoo to Slash Jobs in Shakeup

Internet giant to cut staff and narrow focus, say sources
By Rob Quinn,  Newser Staff
Posted Jan 22, 2008 4:14 AM CST
Exterior view of Yahoo! offices in Santa Clara, California. Yahoo remains among the world's most popular web companies but has lost market share to rivals like Google and Facebook in recent years. ...   (Associated Press)
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(Newser) – Yahoo! is preparing for its first big round of layoffs since the 2001 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.