All told, a total of 420 employees will leave the company.
The announcement of layoffs was made during the company's reporting of its first-quarter earnings. The company surpassed Wall Street's lowered expectations, reporting net revenues of $180 million for the quarter. That number is substantially off what Yahoo! reported a year ago, when net revenues were over $230 million. The company also had its second consecutive net loss of $11.5 million.
Separately, the Santa Clara, Calif.-based company said that Heather Killen, Yahoo!'s senior vice president-international operations, will leave the company in June. A number of top Yahoo! managers have leftin the past few months, and only some of those positions have been filled. The company is still searching for a new CEO. The current Yahoo! chief, Tim Koogle, has said he will step down when a replacement is named.
Yahoo! shares were trading at $15.86 in midday trading. -- Catharine P. Taylor
Copyright April 2001, Crain Communications Inc.