Prior to its earnings call, Yahoo confirmed it will be laying off 1 percent of its global staff. In comparison to the recent round of massive staff slashing Yahoo employees have been subjected to, 1 percent is nothing. Still, it isn’t a good indication that the company is successfully keep its head above water.
It’s likely that 100 to 150 jobs will be lost to the cuts. In a statement published by CNBC, Yahoo explained: “The personnel changes we are making are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion and to support our strategy to deliver differentiated products and experiences to the marketplace. We’ll continue to hire on a global basis to support our key priorities. Today’s action impacts approximately 1 percent of the global employee base.”
There’s been speculation about CEO Carol Bartz’s performance, as Yahoo has had to cut Web properties and hasn’t fared well against rival search engines. But the layoffs have been effective: it’s being reported that Yahoo experienced profits that more than doubled (although it also posted a 12-percent dip in revenue since last year).