ADOTAS – It is being reported that Yahoo will be among the companies downsizing their workforce as a result of the economic crisis. The firm is expected to announce layoffs as part of their plans for cutting costs, according to the Wall Street Journal. This could take place as early as Tuesday, as the company is scheduled to announce Q3 earnings.
An official number has yet to be released but circulating rumors are being reported at about 3,500 employees. The company had a workforce of 14,300 in June of this year. Operating budget cuts have been reported at about 15% according to the article.
Yahoo’s shares closed on Friday at $12.90, down 9cents on the NASDAQ.