The deepening downturn has caused more advertisers to trim their spending, a trend that has hurt all companies like Yahoo that depend on advertising for most of their revenue. The retrenchment has been a bigger problem for more traditional media, particularly newspapers, but it's also forcing Internet companies to tighten their belts.
SHOOT: The next few years will change the landscape of commerce forever, that much is clear. Not only has banking changed, autmaking has changed and media - changing for a while - will finally transition to New Media. Probably we will see more and more subscription services on the internet (iow the internet will no longer be free). These prices could be built into connection fees etc. in the same way some countries have license fees for certain television stations or subscription services.
SAN FRANCISCO (AP) -- Yahoo Inc. is gearing up for its third round of mass layoffs in 14 months, signaling the long-slumping Internet company is still struggling to snap out of its financial malaise under a new leadership team.
The cuts will likely affect several hundred employees, a person familiar with the plan said late Tuesday, confirming a report first published on The New York Times' Web site.
The person asked to remain anonymous because Yahoo isn't publicly discussing anything that might affect its stock price until the April 21 release of the Sunnyvale, Calif.-based company's first-quarter earnings report.
When they made the last cuts, Yahoo executives warned more layoffs could be coming if the recession worsened -- an unwelcome turn that occurred during the first three months of the year.
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