engine - 8:40 am on Apr 22, 2009 (gmt 0)

Yahoo Plans further 5% Staff Cut [ft.com]

Yahoo said on Tuesday that it would cut another 5 per cent of its workforce, on top of a 10 per cent reduction at the end of last year, and invest more in technology. Carol Bartz, chief executive, who took charge of the company in January, said an economy-driven decline in advertising spending had depressed results in the first quarter more than some analysts had expected. Ms Bartz said her top priorities were unifying the Yahoo platform around the world, so changes could be deployed more quickly; improving the quality of such top draws as Yahoo’s news, mail, sports, entertainment and finance pages; and making the advertising system more effective.