K
Kenshin Uesugi
Guest
Yahoo! to cut 560 jobs
Yahoo!, the US technology giant, is set to cut about 4pc of its workforce as the company continues to streamline operations in the face of sluggish revenues.
Yahoo! has struggled to stanch a migration of users and advertising dollars to Facebook Photo: Bloomberg News
Carol Bartz, chief executive since January last year, is leading a job cull which will see around 560 positions go. She led a similar redundancy exercise soon after she joined.
The notification process began on Tuesday and most of the cuts will come from the product group, said Kim Rubey, a spokeswoman for California-based Yahoo!. The company plans to offer workers severance packages and outplacement services.
The company has struggled to stanch a migration of users and advertising dollars to Facebook, which Yahoo! now sees as its biggest rival. Facebook passed Yahoo! as the top seller of online display ads in the US a year ago.
The cuts come as rivals including Google and Facebook are increasing revenues and building market share.
