Yahoo is planning its third major round of job cuts in 14 months. The New York Times reports that the company could lay off "several hundred employees" as soon as next Tuesday, when Yahoo reports its earnings. A spokesperson would not comment, but the company had warned during its last round of cuts in December that more layoffs could be forthcoming, depending on "prioritization" decisions and the economy.
It's not been a fun year to be a Yahoo (NSDQ: YHOO). The company cut 1,500 job in December and said in January that it would suspend pay increases for most of its employees. New CEO Carol Bartz has said that the company needs to "streamline" its business. Under Bartz, Yahoo has cut its FareChase travel engine and online-storage service. NYT reports that the company is now also shopping around Hotjobs, its jobs site.
By Joseph Tartakoff