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Yahoo to cut another five per cent of workforce
Matt Grainger Apr 22 2009, 11:35am
Money saved will be used to invest in new jobs and technology, and unify brand
Yahoo is to cut a further five per cent of its workforce, however the company insists the reductions are not a response to market conditions.
The cuts are expected to be made in the global engineering and product teams, and come after a ten per cent reduction of the global workforce at the end of last year.
Despite declining advertising revenue, Yahoo’s CEO Carol Bartz has warned that the 600 cut jobs will not be contributing to the company’s bottom line, as she intends to strengthen it elsewhere as well as unify the Yahoo brand.
“We’ve tended to spread resources across everyone,” Yahoo’s outgoing chief financial officer, Blake Jorgensen told the Financial Times, adding that Bartz intends to “double down on the places we know we can monetise.”
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