Yahoo is planning a new round of layoffs, the first since Carol Bartz became chief executive in January, according to several people with knowledge of the situation.
The layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports first-quarter financial results, said these people, who agreed to speak on condition of anonymity because the plan is confidential.
A Yahoo spokesman, Brad Williams, declined to comment, citing a company policy not to discuss rumors and speculation.
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.
Shame to have to let more people go but it sounds like a focus on technology is a step in the right direction. It's all about the company being driven by analytics and creating the tech infrastructure to be able to flexible enough to adjust to the way the analytics says is the right way to go (as opposed to the Hollywood media thinking of the past).