Sunnyvale, Calif. – Yahoo (NASD: YHOO) late Tuesday confirmed it has laid
off close to 600 employees — about 4% of its workforce.
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," the company said in a
"We’ll continue to hire on a global basis to support our key
Yahoo said it will offer severance packages and outplacement
services to affected employees.
Multiple sources have reported that the layoffs
hit heaviest within Yahoo’s product division.
Rumors have been circulating for
several weeks that Yahoo would announce a round of layoffs, with TechCrunch
initially reporting in November that the company would cut 20% of its workforce
— about 2,800 employees.
Yahoo denied that figure at the time as
"misleading and inaccurate."