Internet major Yahoo is planning to cut jobs for the third time in a little more than a year, as part of its cost saving measures, says a media report. Quoting people with the knowledge of the situation the New York Times said, "Yahoo! is planning a new round of layoffs, the first since Carol Bartz became Chief Executive in January."
Quoting these people the report added, "layoffs could affect several hundred employees and may be announced... When Yahoo! reports first-quarter financial results."However, the Yahoo spokesman declined to comment, the NYT said in its report published online.
The cuts would be the third round of layoffs at Yahoo! in a little more than a year. The Internet giant, which has been struggling for over two years, laid off about 1,000 workers early in 2008, the daily said.
Yahoo again cut about 1,400 jobs in the fourth quarter of last year, in continuing efforts to prune its sprawling online business and bring down expenses. The firm had 13,600 staff at the end of the year, it added.
In recent years, Yahoo! has seen its growth slowing and has lost ground to Google in online search.
Despite its huge online audience of roughly 500 million people worldwide, it also missed the opportunity to acquire fast growing social websites, like YouTube or Facebook, which have become a magnet, especially with younger users, the NYT said.
The company has suffered from a continuing exodus of executives and a series of revamping that have damaged employee morale.
Late last year, Yahoo! was hit with the deepening recession, and had posted a net loss of $ 303 million.Citing several people familiar with the plans, the report stated, under Bartz Yahoo! has also been trying to sell some business units that it does not consider core to its mission, including Hotjobs, the online recruiting service
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