Yahoo! axes 600 jobs
Purple palace waves pink slips at workers
Yahoo! began laying off around four per cent of its staff yesterday.
The web outfit ran by Carol Bartz confirmed the job cuts on Tuesday, after rumours sprang up at the start of this month that hundreds of workers at the purple palace would be let go.
Yahoo! said that despite its latest round of job cuts, the company would continue to hire people around the world to help maintain critical areas of the business.
“Today’s personnel changes are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion,” said the firm.
As a result of the layoffs, many of which are expected to hit staff working under the web portal’s chief product officer Blake Irving, Yahoo!’s worldwide headcount will shrink from 14,100 to 13,500 people. ®