Tuesday, April 21, 2009

Yahoo Chops Five Percent

Sunnyvale-based Internet portal Yahoo reported its results Tuesday afternoon, saying that it will cut another five percent of its employees. The additional cuts were announced after the firm said that it had a decline of 13 percent in its quarter ended March 31, 2009, compared with the similar period last year. Yahoo reported revenues of $1,580 million for the quarter, with net income of $118M.