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.
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.