Yahoo to cut jobs

After reporting a third quarter slump of about 64 percent, internet giant Yahoo may be forced to cut its global workforce by 10 percent.

After reporting a third quarter slump of about 64 percent, internet giant Yahoo may be forced to cut its global workforce by 10 percent.

Yahoo plan to implement further cost cuts to reduce their annual run costs which presently rank at close to 400 million US dollars.

It is predicted that Yahoo will cut some 1400 employees from its global workforce of 14,300.

The move will mark the second round of job cuts for the company in the last year.

Source: Australian IT