Yahoo slashes 1,500 positions
Written on December 10, 2008
Yahoo Inc. will tell 1,500 employees today they are losing their jobs, a person familiar with the situation said yesterday.
The expected date of the announcement and some details were reported this week by All Things Digital, a blog covering Silicon Valley. The layoffs are expected to hit the finance and human resources departments hardest.
The blog had speculated the layoffs would affect more than 1,500 people, or about 10 per cent of Yahoo’s workforce and the source said the number has not changed.
Yahoo announced in October that layoffs would occur by year’s end compare car insurance prices. Blake Jorgensen, the chief financial officer, said the company would be prepared to make further cuts in 2009 if the economy continued to deteriorate.
Yahoo has also said it was prepared to eliminate positions in high-cost markets and hire aggressively in lower-cost locales such as Eastern Europe, India and southeast Asia.
Reuters News Agency