Update: Yahoo just released a statement denying the 20% cut. They pointedly do not rule out a layoff.
In fact, Kara Swisher reports the number is “more like 10%.”
Here’s Yahoo’s statement:
“Yahoo! is always evaluating expenses to align with the company’s financial goals. However, a 20% reduction in Yahoo’s workforce across the board is misleading and inaccurate.”
Earlier: Yahoo managers are preparing to layoff 20% of the company, TechCrunch reports, citing two sources.
A third source tells TC that a restructuring is coming, but that size of the layoff hasn’t been determined yet.
We reached out to Yahoo and will update if it says anything.
Yahoo has been subject to lots of merger rumours lately. We do NOT take these layoffs as a sign that the company is about to merge with AOL.
Earlier this week, Google announced a 10% raise for all of its employees.