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Yahoo! Revenue Falls; 10% of Jobs to Be Cut
SAN FRANCISCO - Yahoo!(YHOO Quote) took another belt-tightening move Tuesday when it announced plans to reduce its workforce by at least 10% in the fourth quarter.
The announcement came as Yahoo! delivered a third-quarter earnings report that matched Wall Street estimates but fell short of revenue expectations.
The job cuts, part of a plan to reduce costs, will result in the elimination of 1,520 positions from Yahoo's total of 15,200, according to the Associated Press. The workforce reduction comes on top of the 1,000 job cuts it announced in January. ...
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