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Job cuts hit Yahoo!7

Yahoo!7 has cut a "select" number of staff effective immediately in an effort to achieve efficiencies.

Yahoo!7 has cut a "select" number of staff effective immediately in an effort to achieve efficiencies.

(Credit: Yahoo!7)

A company statement said that Yahoo!7 had made "hard decisions" to restructure and realign areas across the business, hoping to streamline processes and bring "agility and efficiency" to the organisation.

"These changes resulted in a select number of staff exits which will be effective immediately, with the ultimate goal of positioning Yahoo!7 to achieve long-term, sustainable growth," the company statement concluded.

A spokesperson for the company was unable to say how many jobs would go and from which areas, although sources said the number would be around ten staff. The spokesperson also declined to disclose the internet portal's total head count.

Joint-parent Yahoo has recently announced that it would reduce its 14,300 head count by at least ten per cent this year, blaming economic conditions, and flagged the possibility of further cuts.

"As we saw the online ad market decline in the third quarter, I decided Yahoo needed to accelerate the process of getting more competitive," chief executive Jerry Yang had said at the time.