Yahoo Cuts One Percent of Staff Ahead of Earnings
In a negative prelude to its fourth quarter earnings report due later on Tuesday, Yahoo confirmed it is cutting 1 percent of its global staff, or about 140 employees.
"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," a Yahoo spokeswoman said via e-mail.
It's the second round of layoffs for Yahoo in as many months. In December, Yahoo laid off 600 people, or about 4 percent of its global staff at the time.
Yahoo ended its third quarter on Sept. 30, 2010 with 14,100 employees and grew its revenue 2 percent year-on-year to US$1.6 billion.
Google, on the other hand, announced on Tuesday that it expects to hire more employees in 2011 than in any other year in its history. Google's biggest hiring year to date was 2007, when it created more than 6,000 jobs.
"We're looking for top talent -- across the board and around the globe -- and we'll hire as many smart, creative people as we can to tackle some of the toughest challenges in computer science," wrote Google Senior Vice President of Engineering and Research Alan Eustace in a blog post.