Web firm expected to confirm redundancies this week
vnunet.com, 20 Oct 2008
Yahoo is expected to announce a number of job cuts this week as it releases its quarterly financial results.
Inside sources quoted in the San Jose Mercury News and The Wall Street Journal suggest that the cuts are expected to affect up to 1,000 people. However, full details are as yet unknown and Yahoo has so far declined to comment.
The announcement will not come as much of a surprise to the industry. In September, Yahoo hired consultancy firm Bain in a bid to streamline some of its processes. Since then speculation has put job cuts as high as 3,000.
Yahoo will make its financial announcement on 21 October.
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