Report: Yahoo Planning Layoffs

Yahoo_Entrance.jpgCNET News is reporting that Yahoo is expected to announce cost-cutting moves this week, which will probably include another round of layoffs following the one from back in February, confirming a rumor last month.

The company currently has 14,300 employees. “Yahoo, which is set to announce its third-quarter earnings Tuesday, has reportedly asked managers to identify areas where the company can achieve operating budget reductions of 15 percent.”

The company has been under tremendous pressure lately, following its rejected merger with Microsoft and its subsequent plummeting stock price. Currently the company is trading around $13 a share, which is well below the $31 per share Microsoft offered and the $19 per share the company was valued at the day before Microsoft’s offer on February 1st, 2008. There’s no word yet on whether or not the cost-cutting moves will include anything on the mobile side—Yahoo has a huge portfolio of cell phone-related products.

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