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Is Yahoo Down Today? Yahoo Is Working

Is Yahoo Down Today? Yahoo Is Working - Yahoo is cutting about 4 per cent of its workforce in the second big round of layoffs under Carol Bartz, chief executive, who is continuing to streamline operations as revenue stagnates.

The Silicon Valley web content company began notifying affected employees on Tuesday. With staff numbering 14,100 at the last count, the reduction means about 560 people will lose their jobs.

Ms Bartz laid off a similar number a few months after she joined Yahoo in January 2009, saying towards the end of that year that no more job cuts were planned.

Is Yahoo Down Today? Yahoo Is Working

Since then, though, the economic recovery has failed to lift Yahoo as much as its competitors in terms of internet advertising. Yahoo’s total revenues have come in at $1.6bn for each of the past three-quarters.

The reductions are in stark contrast to the behaviour of Yahoo’s Northern California rivals. Google recently announced cash bonuses and a 10 per cent pay increase for all employees, and other groups are bidding fiercely to recruit and retain key talent in areas of expertise such as wireless technology.

While online ad spending is growing overall, Yahoo’s share of the market is in decline. In display ads, where the company is strongest, it will have about 16.2 per cent of the US market in 2010, according to eMarketer, down from 16.5 per cent in 2009.

Is Yahoo Down Today? Yahoo Is Working
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