Yahoo plan job cuts, profit drops
The Silicon Valley-based web pioneer Yahoo Inc posted a sharply lower quarterly profit on nearly flat sales. Yahoo said, it planned to cut at least another 10 percent of its global workforce.
But Yahoo shares rose 8 percent on Tuesday, on the company’s plan to cut its work force to save costs.
Yahoo is cutting jobs in high-cost markets and hiring aggressively in lower-cost markets such as India, Eastern Europe and Southeast Asia.