Yahoo Will Axe 1000 Company Jobs

San Francisco (CA) - Yahoo plans to cut about 1,000 jobs, or around 7 percent of its 14,000 employees, as part of an ongoing restructuring of the company, its chief financial officer said on Tuesday.

"Our outlook contemplates a workforce realignment of approximately 1,000 people that we will be implementing in mid-February," CFO Blake Jorgensen told investors on a conference call to discuss Yahoo's recent results and outlook.

Jorgensen said the company expects to record a cash charge of $20 million to $25 million during the first quarter of 2008 that is not included in the company's stated outlook.

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