Yahoo! to Cut 5% of Workforce
Sunnyvale-based Yahoo! will cut 5% of its workforce as Q1 reports show a drop in net profit of 78%.
CEO Carol Bartz, at the helm since January, is deadly serious about preserving core performance, keeping a "wall of shame" which displays marginal or underperforming aspects and products of the company.
Yahoo said Tuesday that the employees being affected in this latest round of cuts would be notified within the next two weeks. Last year, the company cut about 700 jobs on a net basis.
The company's revenue was $1.58 billion, a decrease of 13 percent from the first quarter of 2008.