Yahoo Expected To Cut Jobs

Category: Internet
Posted: October 20, 2008 11:32AM
Author: jammin

Over 1,000 jobs could be at risk as Yahoo as moves are made to cut operating budgets by around 15%. Yahoo hasn't had the best of years, with the much speculated over takeover deal with Microsoft ending with the latter walking away after having its $47.5bn offer rejected. With the recent economic turmoil, online advertising revenues have been hit, with Yahoo forecasting third quarter revenues of between $1.78bn and $1.98bn. Yahoo currently employs around 14,300 people worldwide. The exact number of those facing lay-offs is unknown, though it should become clear as soon as tomorrow.