PTI | Last Modified - Dec 14, 2010, 04:21 PM IST
New York: Internet major Yahoo is planning to cut 650 jobs or about five per cent of its total workforce, says a media report.
“Yahoo, the beleaguered Web portal, plans to cut up to 650 jobs as soon as Tuesday,” The New York Times reported citing a source.
The planned cuts, representing up to 5 per cent of the overall workforce of 14,100 employees, are aimed at Yahoo's products unit, the report noted.
The product group, which designs and builds consumer and advertising services, is led by Blake Irving, a former Microsoft executive, who was hired by Bartz eight months ago.
According to the publication, Yahoo spokesperson Kim Rubey declined to comment about the issue.
The layoffs come as Carol A Bartz, Yahoo's chief executive, tries to reduce costs amid sluggish growth in Yahoo's online advertising business.