San Francisco, Apr 22: Yahoo Inc announced its plan to cut 5 per cent of its workforce as the company is struggling to fight economic crisis and the dominance of Google in internet search.
The announcement came after Yahoo reported quarterly income of $118 million, down 78 pc from a year ago. Yahoo sales fell 13 pc to $1.6 billion. The decision to cut workforce will effect about 600 to 700 employees. Almost same number of Yahoo employees were laid off in 2008 too.
This is the first job cut ordered by chief executive Carol Bartz, who replaced company co-founder Jerry Yang in Jan.