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Yahoo! to Slash 10% of Workforce (Update)
SAN FRANCISCO -- In an effort to reduce costs during a tough economic climate, Yahoo!(YHOO Quote) announced that it would slash 10% of its workforce, leaving more than 1,500 people out of a job.
The news came as Yahoo! delivered third-quarter results that matched Wall Street earnings estimates but fell short of revenue expectations. The company also lowered its full-year revenue guidance as pressure on its premium display advertising continued to mount.
Shares of Yahoo! were up 7.3% to $12.95 in after-hours trading. ...
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