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Yahoo to lay off 1% of its employees

January 25, 2011 | 12:18 pm

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Yahoo is cutting 1% of its workforce in a move that follows the layoff of about 700 employees in December.

The Sunnyvale, Calif.-based company declined Tuesday to give an exact number of how many employees were set to lose their jobs.

"The personnel changes we are making are part of our ongoing strategy to best position Yahoo! for revenue growth and margin expansion and to support our strategy to deliver differentiated products and experiences to the marketplace," said Dana Lengkeek, a Yahoo spokeswoman in a statement e-mailed to the Technology blog.

"We'll continue to hire on a global basis to support our key priorities. Today's action impacts approximately 1% of the global employee base."

Yahoo had about 14,100 employees worldwide last year before it announced it was cutting as many as 700 jobs.

News of the layoffs came hours before Yahoo is scheduled to report its fourth-quarter earnings after the markets close Tuesday.

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-- Nathan Olivarez-Giles

twitter.com/nateog

Photo: A Yahoo billboard is seen in New York's Times Square Oct. 19, 2010. Credit: Brendan McDermid/Reuters

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