Yahoo Inc is planning to announce cutbacks later this month that will likely lead to hundreds of job losses at the nearly 14,000 employee company, a source familiar with the plan said on Monday.
Yahoo spokeswoman Diana Wong declined to comment on a report published on the Silicon Alley Insider blog, which on Saturday said Yahoo has created a list of "1,500-2,500 jobs that may be eliminated in the next two weeks."
The source said the report significantly exaggerated the scale of the potential layoffs, the exact number of which is still being settled, but which will be announced around the time the company reports year-end results on January 29.
"There will be some reductions in the workforce," the source told Reuters. "It would likely be in the hundreds."
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