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Yahoo Is in Expanding Mode, Hiring: CEO
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Yahoo is done with its cost-cutting program and now hiring, Chief Executive Carol Bartz told CNBC Tuesday.
"We're not in cost-cutting mode… we're actually hiring. We're expanding as a company," Bartz said.
Like many companies, Yahoo [YHOO
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] does not issue guidance beyond a quarter, and next quarter is showing growth, she said, adding that the company's results in the third quarter were good, despite a 12 percent fall in revenue.
"The company being down 12 percent year-on-year is basically the new flat if not going up," Bartz said, speaking in Singapore.
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The recruitment drive is for people in engineering and user experiences, she said.
Bartz expects regulatory approval for the 10-year partnership deal over search with Microsoft [MSFT
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] in the first quarter next year.
"Governments like to regulate, so they want to look at these things, we're confident that it will pass," she said.
"We're putting a contract together to last us 10 years so both of us want to be very careful," she said when asked when the details of the deal will be finalized.
Bartz reiterated her goal to boost operating profit margin to between 15 percent and 20 percent within the next two or three years by spurring revenue and cutting costs, according to reports from news wires.
Bartz, who plans to meet with Indian Prime Minister Manmohan Singh later this week, said Yahoo plans to expand its operations in India and hire more staff, Associated Press reported.
- Watch the full CNBC interview with Carol Bartz above.
Data is a real-time snapshot *Data is delayed at least 15 minutes
