San Francisco - Internet portal Yahoo said Tuesday that it planned to cut 5 per cent of its workforce as the company struggles with the economic downturn and the dominance of Google in internet search.
Yahoo announced the job cuts as it reported quarterly income of 118 million dollars, down 78 per cent from a year ago but still above analysts' expectations. Sales for the Silicon Valley company fell 13 per cent to 1.6 billion dollars.
The company said the job cuts will affect between 600 and 700 workers, about the same number that were axed last year in an earlier bid to shore up profits.