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Yahoo Cuts Jobs on Profit Decline

Yahoo Cuts Jobs on Profit Decline

Yahoo will cut 1,000 jobs from its 14,300-member work force by mid-February, sad news for a number of Yahoo employees.

The company disclosed these cuts as a result of discussions pertaining to its 4th quarter profit losses. Yahoo also made mention that they would be heavily investing in new areas of search and online media, new jobs of which will be created that will allow existing employees to reapply for.

Yahoo said its fourth-quarter net income fell to $206 million, a 23-percent decline from $269 million in the same quarter a year ago, as the company continues to compete with Google and the likes of MSN.

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