Several hundred of Yahoo’s 14,000-strong staff may be departing the company by the end of the month, according to a report by the New York Times. The paper says Yahoo wants to increase its profitability, grow its stock price, and revamp its Internet portal with a narrower focus on a smaller number of important areas.
Exactly how many employees will leave or when isn’t yet set in stone, and Yahoo is reportedly still trying to decide the areas from which it needs to cut staff. The company’s fourth-quarter financial results will likely influence the final decision, but the NYT suggests Yahoo’s photo, premium music, auction, and Yahoo 360 services will likely face the axe or be reduced. In their stead, Yahoo will focus on becoming a “starting point” for users on the web by emphasizing its search engine, home page, e-mail, and news services.
According to a person “close to the discussion,” one or several plans for change will be discussed at a forthcoming meeting. The NYT expects Yahoo to make an announcement at the end of this month.