Reports: Major Layoffs for Yahoo Inc.

[sabra]

Source: ABC News/AP

Reports: Slumping Internet Icon Yahoo to Shed Hundreds of Workers Amid Calls for a Shake-Up

Battered by slow revenue growth and the popularity of social networking Web sites, Yahoo Inc. is poised to lay off hundreds of workers, according to published reports.

The New York Times and The Wall Street Journal have both reported on the slumping Internet icon's cost-cutting plans, citing people familiar with the matter.

Precisely how many of Yahoo's roughly 14,000 employees will lose their jobs hasn't been determined, the newspapers said. A final decision could be announced Jan. 29 when Yahoo executives are scheduled to review the Sunnyvale-based company's fourth-quarter results.

If several hundred employees are dumped, it will mark Yahoo's most extensive layoffs since 2001 when the company was trying to battle back from the dot-com bust.

Read more: http://abcnews.go.com/Technology/wireStory?id=4169512

[countryjake]

1. Oh jeez

This is not good...personally.