Report: Yahoo layoffs to come Wednesday

The Internet giant will issue pink slips this week as part of its previously announced 10 percent workforce cut, according to a report in Dow Jones' AllThingsD site.

Christmas is coming and so are the pink slips.

Yahoo CEO Jerry Yang noted in his post-quarterly earnings e-mail to employees in late October that employees affected by the 10 percent job cut would be "notified of layoffs in the next several weeks" -- that is, before Thanksgiving.

Apparently it took a little longer to wade through the approximately 1,430 positions.

A report in Dow Jones' AllThingsD site notes that the pink slips are expected Wednesday morning and will be across the board.

And while Yang, in the most recent earnings report call, noted that further layoffs could occur in 2009, AllThingsD, citing an anonymous source, said that an additional 500 positions may be cut through attrition and a hiring freeze.

Yahoo's move to cut 10 percent of its workforce puts it in the ranks of a number of other companies that are paring down their staffs, as a means to offset a hit to revenues as the economy tanks.

 

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