SUNNYVALE, Calif. — Yahoo is poised to lay off hundreds of workers as part of the slumping Internet icon’s effort to sharpen its focus and boost its sagging stock, according to published reports.
The New York Times and The Wall Street Journal reported Yahoo’s cost-cutting plans Monday, citing people familiar with the matter.
Precisely how many of Yahoo’s roughly 14,000 employees will lose their jobs hasn’t been determined, the newspapers said. A final decision could be announced Jan. 29 when executives review fourth-quarter results.
The payroll purge was first reported over the weekend by Silicon Alley Insider, a blog focused on investments in technology and media. The blog said Yahoo had drawn up a list of 1,500 to 2,500 jobs that could be eliminated, but Monday’s reports indicated management doesn’t expect the cuts to be that deep.
A Yahoo spokeswoman didn’t immediately return calls seeking comment.
