Yahoo is confirming what has been an open secret for most of the day—that it has cut about 600 employees, or roughly four percent of its workforce. In a statement, the company calls the layoffs “part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace.” The layoffs follow a series of reports that suggested Yahoo was preparing to cut as many as 10 percent of its employees, primarily in its product group.
