Yahoo cuts 5% of its staff

Yahoo, the Internet Company, plans to cut 600 to 700 jobs or nearly five percent of its workforce to reduce costs and reposition the company in the faster-growing markets, San Dieo News Net reported.

According to a person familiar to the plans of Yahoo, the employees that will be laid off can be notified as early as Tuesday. The person asked for anonymity because Yahoo had not made any formal announcement about the issue.

According to reports, nearly five percent of the 14,100 Yahoo employees will be removed. The move of the Internet Company will mark its fourth mass layoff for the past three years. The plan of the company to reduce its costs results to the loss of 600 to 700 jobs.

The two current house cleanings came from Carol Bartz, current chief executive officer of Yahoo. She is a Silicon Valley veteran who is hired nearly two years despite the lack of experience on the Internet or in advertising. Basically, advertising is the main source of the Internet Company.

According to reports, the layoff is expected to concentrate in the U.S. product groups of Yahoo. It has been undergoing an overhaul since the former Microsoft executive Blake Irving was hired by Bartz to help the company run the division last spring. The job cutting will not be a big shock for a lot of people because different gossips about the layoffs were already reported last month by TechCrunch and All Things Digital, two of the most popular technology blogs.

The revenue of the company edged up less than two percent to $4.8 billion in the first nine months of the year. It reflects the difficulty of Yahoo in selling ads while other companies such as Google and Facebook are becoming prosperous.