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Layoffs coming to Yahoo?

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On Friday Yahoo! stock closed at $20.78 per share, less than half of what it was worth in early 2006.

With a workforce of roughly 14,000 people, Yahoo will need to layoff hundreds of people to try and increase profitability and improve focus.

The final number of people to be laid off will likely be announced on January 29 during Yahoo’s conference call with analysts after reporting its forth-quarter financial results.

In an email, Diana Wong, a company spokesperson, would only say “Yahoo plans to invest in some areas, reduce emphasis in others, and eliminate some areas of the business that don’t support the company’s priorities. Yahoo continues to attract and hire talent against the company’s key initiatives to create long-term stockholder value.”

Stay tuned for more info as it comes out…

[Via New York Times]

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