Yahoo! to Announce Job Cuts: Report

Yahoo! (YHOO Quote) is expected to announce significant cost-cutting plans, including layoffs, as soon as Tuesday when the Internet company reports quarterly earnings, the Wall Street Journal reports.

The exact number of jobs to be reduced remains unclear, though it is expected to exceed the 1,000 jobs that Yahoo! announced it was cutting in January, say people familiar with the matter, the newspaper reports. The kinds of jobs that will be slashed won't be announced for at least a few weeks. The cuts are expected to come from across the company.

The San Jose Mercury News and several technology-industry Web sites have reported that Yahoo is planning job cuts.

Some Yahoo! managers also have been asked to identify operating budget cuts of around 15%. The company's U.S. hiring has slowed, and Yahoo recently released two to three dozen external recruiters, according to these people, the Journal reports.

Earlier this year, Yahoo! spurned Microsoft's(MSFT Quote) takeover offer of $45 billion, or $31 a share. The stock has fallen more than 40% in the past three months. Yahoo closed at $12.90 on Friday.

Last week, Microsoft CEO Steve Ballmer reportedly said during a technology conference that an acquisition of Yahoo! could still "make sense economically." Microsoft issued a statement soon after, in which it maintained that its position on Yahoo! hasn't changed and that "Microsoft has no interest in acquiring Yahoo; there are no discussions between the companies."