January 22, 2008
According to the New York Times and the Wall Street Journal Yahoo is preparing to lay off hundreds of their employees as part of cost cutting plans.
The company is reportedly considering the move to boost their stock prices which have been slumping. Yahoo's stock prices have been deflated as they continue to try and compete with Google and more recently social networking sites like MySpace and Facebook.
Just how many of the 14,000 workers will lose their jobs is still uncertain. A final decision is expected to be announced on January 29th when Yahoo executives are scheduled to review the company's fourth quarter results.
If the company does in fact lay off hundreds of workers it will be the companies most extensive layoffs since 2001 after Yahoo tried to recover from the dot com bust.