Yahoo Set to Cut 1,000 Jobs
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.
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