By Elinor Mills, 13 February 2008 08:00
NEWS
Yahoo! has let go more than 1,000 employees. One source inside the company said the number was 1,100, which is slightly higher than expected. The layoffs bring the headcount down to approximately 13,200 employees.
Yahoo! human resources had booked every conference room at the California headquarters to meet with employees losing their jobs, according to the source.
Yahoo! executives warned last month they would be downsizing by about 1,000 people in February. This came before Microsoft's offer to acquire the company. Yahoo! has rejected the bid but reportedly has signalled it would consider a higher offer.
A Yahoo! spokeswoman said: "We are aligning resources to support our big bets: starting points, must buy and open." That refers to Yahoo!'s mission of being the most popular starting place for people on the internet and the most popular advertising platform, as well as the company's focus on opening up Yahoo!'s network to third-party publishers.
When asked to confirm the exact number of employees affected or what departments they were in, the spokeswoman said the company was not providing details.
She said: "We're making these targeted reductions in areas of our business that don't support our critical growth initiatives."
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