Internet portal and search engine provider Yahoo! is set to make a significant number of layoffs in an attempt to refocus its operations, according to reports.Sources close to the matter said that the company is planning to shed around 700 jobs from its 14,000 strong workforce.
While an official announcement on the subject has not yet been made, an emailed statement from Yahoo! spokeswoman Diana Wong said: "Yahoo! plans to invest in some areas, reduce emphasis in others and eliminate some areas of the business that don't support the company's priorities."
According to the source at Yahoo!, an announcement on the restructuring of the firm's workforce could be made when it reveals its fourth quarter and full-year financial results later this month.
The news comes after Yahoo! chief executive Jerry Yang announced at the Consumer Electronics Show in Las Vegas that the company intends to focus on becoming "the best starting point" for all web users, whether they browse from home or on their mobile phones.
Mr Yang made clear his intention to boost Yahoo!'s performance by "sharpening" its business focus shortly after he took up his position last summer.
In the company's announcement of its second quarter results, Yahoo! president Susan Decker added that the firm would "aggressively" pursue ways in which it would be able to distribute its capital and human resources for maximum effect.
