Yahoo is believed to be letting 600 staff go today,
according to web reports.
The company reported it would be making cuts following its poor
financial results. But according to the
LaLaWag
blog, the layoffs have already started.
"Most of the affected are being notified during the day,
Wednesday April 29th, while some travelling employees have already
received notice while still on the road," said the LaLaWag
posting.
Last week Carol Bartz, who took over as chief executive in
January, said an economy-driven decline in advertising spending had
depressed results more than some analysts had expected. Profit
fell to $118m, or 8c a share, from $537m and 37c a share in the
same period a year ago.
Yahoo expects second-quarter revenue of roughly $1.52bn and
income from operations of about $85m