bill - 12:34 am on Nov 12, 2010 (gmt 0)
Yahoo plans 10 percent layoff in product unit [news.cnet.com]
Yahoo is indeed preparing to lay off employees, in a reduction in force that will be done in December.
But the layoffs, first reported in TechCrunch at 20 percent, will be closer to 10 percent and be almost completely centered on the product organization under Chief Product Officer Blake Irving, sources close to the situation said.
That would mean layoffs of about 650, since that part of Yahoo has about 6,500 employees.
Yahoo, in fact, just put out a statement saying the 20 percent figure was "inaccurate." Said the company in a statement: "Yahoo is always evaluating expenses to align with the company's financial goals. However, a 20 percent reduction in Yahoo's workforce across the board is misleading and inaccurate."
In addition, sources said, the layoffs might result in the outsourcing of some functions at the company.