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Dec 14, 2010

Rumored Yahoo Employee-Layoffs

One of the best search engine Yahoo confirmed the rumored "personnel changes" before the year ends this December, hundred of employees will be affected by the said change across the worldwide offices.

Yahoo explained their side in this statement "Today's personnel changes 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 to the marketplace,".

Yahoo will continue hiring on a global basis to support their key priorities. However, Yahoo is grateful for the contributions of the employees affected by the reduction. Severance packages and outplacement services are offered to these employees.

The news by AllThingsD proved to be wrong because the layoffs that was reported to affect up to 700 employees slightly decreased to about four percent, or about 560 employees in all.

About 5 percent of Yahoo workforce was cut about three months after current CEO Carol Bartz took over from Jerry Yang. The company had cut about 10 percent and another 1,000 early in 2008 a month prior to Bartz arrival.