Yahoo to slash hundreds of jobs?
updated 10:40 am EST, Tue January 22, 2008
Yahoo Job Cut Claims
Early search engine pioneer Yahoo could cut "hundreds" of jobs within the next two weeks, says a claimed insider to the plans. Though hoping to dampen outside rumors that Yahoo could cut as many as 2,000 jobs, the alleged source notes that a significant amount of cuts are still expected in an attempt to refocus the company, which has steadily lost ground to Google. Most of these will be in fringe areas outside of Yahoo's new focus on its main website, ads. and opening its pages to development, according to the tip.
The announcements are expected to be made public by the company's latest results update on January 29th but may be countered by new hires in Yahoo's core divisions that would reportedly keep the company's roster at about 14,000 workers.
Yahoo's projected drop comes as the technology industry has been hit by the effect of a broader American economic downturn and is said to partly hinge on any signs of a recovery; if conditions improve ahead of the update, the job cuts may be postponed or shelved indefinitely, the report suggests.
Company officials have declined commenting on the claims.
