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Finance

Yahoo to layoff 140 as it prepares to release earnings

Yahoo today confirmed that it plans to layoff about 140 employees today, roughly one percent of its global workforce, as the company continues to struggle with a turnaround plan to revive it. The cuts are focused around the marketing team, according to an unnamed source who spoke to the New York Times.
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Written by Sam Diaz, Inactive on

Yahoo today confirmed that it plans to layoff about 140 employees today, roughly one percent of its global workforce, as the company continues to struggle with a turnaround plan to revive it. The cuts are focused around the marketing team, according to an unnamed source who spoke to the New York Times.

The reductions comes on the same day that Yahoo is slated to report its fourth quarter earnings that are expected to be disappointing. Wall Street analysts are expecting the company to report earnings of 22 cents per share on revenue of $1.19 billion.

Today's workforce reduction isn't the first tied to a greater strategy by CEO Carol Bartz to focus on Yahoo's strengths, such as display advertising and editorial content. The strategy is meant to capitalize on the steady flow of readers who come to Yahoo daily for email, finance news and other core parts of the site. Likewise, the company is shuttering other parts of the business that are more of a drain.

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