Yahoo reportedly planning major cost cuts

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Sunnyvale, Calif.—Yahoo Inc. is preparing to significantly cut its costs, a move that reportedly will include large workforce layoffs, as it readies its Tuesday second-quarter earnings announcement.

According to a report in the San Jose Mercury News, the layoffs are expected to affect more than 1,000 employees. Meanwhile, a Yahoo tipster reported to that the company’s cuts will total 3,500 jobs, chiefly in sales and finance.

In January Yahoo laid off 1,000 employees, and last month it hired consultancy Bain & Co. to streamline its processes. The company has a total of about 14,000 employees.

—Christopher Hosford

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