Yahoo will notify 1500 employees that they will be losing their job today. This comes following an October announcement from chief financial officer Blake Jorgensen that the company would be making their layoffs by the end of 2008. Yahoo also announced that Yahoo is prepared to make further cuts in 2009 if the economy continues to worsen.
The human resources and finance areas will be hit the hardest by these layoffs.
Yahoo will reduce its workforce in high-cost markets and hire aggressively in lower-cost locations such as Eastern Europe, Southeast Asia, and India, the company said.
Yahoo is still awaiting a new CEO, following the stepdown of Jerry Yang in November.