Yahoo (NSDQ: YHOO), which cut 600 jobs, or four percent of its workforce in December, is now laying off an additional one percent of its employees. The cuts come on the same day that Yahoo is expected to report yet another quarter of declining sales growth. The company also remains under pressure to improve its profitability, especially since it has set very lofty goals for improving its operating margins.
Yahoo had 14,100 employees prior to the December layoffs, so these latest job cuts would seem to reduce that total to roughly 13,360, although Yahoo says it has continued to hire over the last several months to “support our key priorities.” The New York Times (NYSE: NYT) cites a source who says these latest cuts targeted Yahoo’s marketing team.
Here’s Yahoo’s full statement:
“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. 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.”