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Internet Powerhouse Yahoo! Lays Off
Unspecified Number of Workers in Broadcasting Services SUNNYVALE, Calif. (AP) -- Internet powerhouse Yahoo! Inc. said Tuesday it has laid off an unspecified number of workers in its broadcasting services division as part of the company's financial makeover. The Sunnyvale-based company wouldn't say how many workers lost their jobs in a shakeup that affected offices in Dallas, Atlanta and London. The cuts weren't large enough to be considered material, Yahoo spokesman Chris Homan said. Yahoo ended September with 3,587 employees. The job cuts won't affect any of the Webcasting services that the affected divisions provide, Homan said. With online advertising in a slump, Yahoo has been trying to capitalize on the popularity of its Web site to sell more online services. At the same time, Yahoo has been pruning less profitable divisions and laying off employees to reduce expenses. Yahoo last year laid off 660 workers. The strategy, dictated by a management team led by former movie studio boss Terry Semel, has paid off so far. The company reported earnings of $50 million in its last two quarters, bouncing back from an 18-month funk that produced losses totaling $244 million. Yahoo's shares gained 53 cents to close at $16.57 Tuesday on the Nasdaq Stock Market. |