Yahoo to Lay Off More Than 600 Staffers

Reuters with CNBC.com
Tuesday, 14 Dec 2010 | 7:39 AM ET

Yahoo plans to lay off more than 600 employees as soon as Tuesday, CNBC learned late Monday.

laid off
laid off

The cuts would represent between 4 percent and 5 percent of the Internet portal's overall staff, which totaled 14,100 at the end of September according to Yahoo's website.

The layoffs come two years into Chief Executive Carol Bartz's tenure as Yahoo works to grow its revenue amid tough competition from Google and Facebook.

Technology blog AllThingsD wrote earlier this month that Yahoo planned to cut 650 employees, and the New York Times newspaper reported on Monday that the cuts could take place as soon as Tuesday.

A source familiar with the situation said the New York Times report was accurate and that the cuts would mostly be in Yahoo's product group. Another source told Reuters that Yahoo planned to cut between 600 and 700 employees from the product group on Tuesday.

  Price   Change %Change


Contact Technology


    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.