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Digital
More job cuts at Yahoo!
By CMU Editorial | Published on Wednesday 15 December 2010
Yahoo! announced yesterday that it would cut a further 4% of its workforce, which I think means we now have to stop referring to it as a “web giant”. 600 jobs will go at the web dwarf, though the company says that while some parts of its operations will be cut others will continue to expand.
The struggling web firm has actually seen profit margins grow since current CEO Carol Bartz took over in early 2009, but revenue growth has stalled and the number of people accessing websites on the Yahoo! platform is in decline while traffic at main rivals Google and Facebook continues to grow. A spokesman said yesterday that the latest jobs cull was “part of our ongoing strategy to best position Yahoo! for revenue growth and margin expansion”.
