Pasadena, CA — Yahoo Inc. is planning to layoff 600 to 700 employees, which is around 5 percent of its workforce, this week.

The news was first reported in the Wall Street Journal which received this information from company insiders. But Yahoo itself has declined to comment on the issue. The cuts will probably be in Yahoo's products section, which is responsible for the company's popular sports, finance and news pages. This section also handles the company's popular email service. Yahoo has around 14,100 employees and this will be Yahoo's fourth big layoff in the last three years.

Yahoo has been struggling to keep up with competitors in the past few years. Its revenue for the first nine months of this year was $4.8 billion and the company has not been as successful in selling advertisements compared to Google and Facebook. Google's revenue for the same time period is almost $21 billion.

CEO A. Harrison Barnes of InformationTechnologyCrossing says that this shows that even engineers from big firms aren't immune to layoffs. ''IT workers need to have the latest in demand skills, that's the key to recovering from these layoffs and getting new jobs.'' Barnes' firm has been able to compile a list of over 42,000 IT jobs nationwide in the last seven days.

Contact:
Roger Croft
Editorial Coordinator
InformationTechnologyCrossing
626-243-1814
rogerc@InformationTechnologyCrossing.com

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