engine - 4:39 pm on Dec 14, 2010 (gmt 0)
Yahoo Reported to Cut 650 Staff [online.wsj.com]
Yahoo Inc. is preparing to cut as many as 650 jobs, or almost 5% of its workforce, as early as Tuesday, according to people familiar with the situation.
The cuts are the latest effort by the struggling Internet media company to streamline operations and cut costs as it attempts a multi-year turnaround effort under Chief Executive Carol Bartz.
A spokeswoman for the Sunnyvale, Calif., company declined to comment.
The cuts will be targeted at Yahoo's products group, which builds Web properties like the company's popular news, sports and finance pages, as well as its widely used email service. The group, which recently had about 7,000 employees, is run by chief products officer Blake Irving, a former Microsoft Corp. executive who joined Yahoo in April.
Yahoo plans 10 percent layoff in product unit