NYT: Yahoo to Announce Hundreds of Job Cuts as Soon as Next Week

Sunnyvale, Calif. -- Needing to cut costs to deal with a weakened online advertising market, Sunnyvale-based Yahoo is expected to announced a new round of job cuts likely to affect several hundred workers as soon as next Tuesday, The New York Times reported, citing several people familiar with the matter. The news comes as the company struggles to generate revenue from high-priced display advertising, which has been hit hard by the recession, and has lost ground to rival Google in online search. The paper reported that new CEO Carol Bartz has been looking to shed several of the company's non-core businesses, including Hotjobs. She announced a new, streamlined management structure in late February. Yahoo cut 2,400 jobs last year, finishing 2008 with 13,600 employees.
http://www.nytimes.com/2009/04/15/technology/companies/15yahoo.html?_r=1&ref=business