Yahoo is planning to lay off hundreds of employees in an effort to increase its profitability, prop up its deflated stock price and narrow the focus of its sprawling Internet portal to a smaller number of key areas, people close to the company said Monday. The final number of people to be laid off from Yahoos work force of about 14,000 is yet to be determined and is likely to be announced around the end of the month, perhaps during Yahoos Jan. 29 conference call with analysts after it reports fourth-quarter financial results, these people said.
Company executives are still trying to determine exactly which areas will be cut. One person close to the discussions said a final plan, or perhaps a few alternative plans, would be submitted to the companys board at a coming meeting. The plans final shape may be influenced by the companys fourth-quarter financial performance, this person said. Yahoo declined to comment specifically on any plan for layoffs. In an e-mail statement, a company spokeswoman, Diana Wong, said: "Yahoo plans to invest in some areas, reduce emphasis in others, and eliminate some areas of the business that dont support the companys priorities. Yahoo continues to attract and hire talent against the companys key initiatives to create long-term stockholder value."
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