Yahoo Set to Cut 1,000 Jobs
A day after reporting a 23 percent drop in quarterly profits, Yahoo says it will cut about 1,000 jobs as early as next month. That's about 7 percent of the Internet portal's work,force. The aim is to cut costs and focus on the company's most important business: online advertising.
Copyright © 2009 National Public Radio®. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.
RENEE MONTAGNE, host:
NPR's business news starts with layoffs at Yahoo.
The Internet company says it plans to axe about a thousand jobs as early as next month. That's about 7 percent of Yahoo's workforce. The aim is to cut costs and focus on the company's most important business, online advertising. Ad revenues have been flagging and the company yesterday reported a 23 percent drop in quarterly profits.
Copyright ©2009 National Public Radio®. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to National Public Radio. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.
Comments
Discussions for this story are now closed. Please see the Community FAQ for more information.