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Report: Yahoo likely to see layoffs with new owner


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Report: Yahoo likely to see layoffs with new owner

Yahoo! Inc.'snew owners are likely to pursue layoffs in an attempt to cut costs, perhapstrimming 3,000 positions from the company, Bloomberg News reported July 17, theday before a final roundof bids for Yahoo's core internet assets were due.

SunTrust Robinson Humphrey analyst Robert Peck said a buyerlike Verizon Communications Inc.or AT&T Inc.could easily make those cuts largely due to redundant operations in areas suchas human resources or marketing, according to Bloomberg. Both Verizon andAT&T are among the companies rumoredto be interested in Yahoo.

Yahoo's board reportedly received offers that valued thecompany's assets at up to about $6 billion.