Yahoo! planning massive layoffs for Wednesday
10% workforce cut looms
The massive layoffs that Yahoo!'s departing CEO Jerry Yang warned about in October will reportedly hit the search firm's employees Wednesday morning.
A report on Dow Jones' All Things Digital claims the planned Yahoo! worker-decimation scheme will arrive tomorrow with further cuts on the way.
Yang said during the company's Q3 earnings call in October that Yahoo! would jettison at least 10 per cent of its workforce by the end of the year, affecting about 1,500 positions.
While the CEO also said at the time that the layoffs were the first step of a longer-term effort to cut costs, All Things D pinned the eventual expected reduction of head count at 2,000 staff, citing unnamed sources.
The report claims layoffs will be made across the board, but with human resources and finance taking the biggest hit because their costs are mostly staff-related.
A Yahoo! spokeswoman told us the company hasn't confirmed any of the details about the layoff beyond what was announced in its Q3 earnings call. ®