Thursday 30 March 2017

New Yahoo cuts raise fear of Irish job losses

Peter Flanagan

Peter Flanagan

YAHOO refused to comment yesterday on possible job losses at its Irish operations amid reports the company may cut some 750 staff globally.

The California based company, which announced last month it would seek a 4pc reduction in headcount around the world -- about 600 people -- said on Tuesday it would look to cut another 1pc of its 14,000 staff worldwide.

A spokesman for Yahoo refused to comment on any potential layoffs in Dublin, where the firm employs more than 200. They are employed mostly as advertising sales staff and content managers for Yahoo's Irish website.

Any cuts here would be seen as a blow to government plans for a "smart economy" to lead the recovery here.

The internet giant reported lacklustre fourth quarter results. Gross profit was up but revenues continued to decline as the company lost out on page views, which declined for a third consecutive quarter.

Chief executive Carol Bartz warned the declines were likely to continue. The company added that sales and operating profit in the first quarter of 2011 may miss analysts' estimates as it struggles to keep up with the likes of Google.

By year's end, Google held around 66pc of the internet search market. Yahoo and Microsoft took a 28pc share.

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