January 25, 2011 / 6:58 PM / 7 years ago

UPDATE 1-Yahoo laying off 1 percent of workforce

* Yahoo had 14,100 employees at end of Q3

* Reports Q4 results after Tuesday market close

* Yahoo shares down about 1 pct

SAN FRANCISCO, Jan 25 (Reuters) - Yahoo Inc YHOO.O is cutting 1 percent of its global workforce, the company said on Tuesday, the second round of layoffs in six weeks.

Yahoo declined to say exactly how many employees would be laid off, but at the end of the third quarter it had 14,100 staff worldwide.

In December, the Web portal said it would lay off about 4 percent of its workforce, in a move it said would affect about 600 people, mostly in Yahoo’s product group.

The layoffs come hours before Yahoo is due to report fourth-quarter financial results after Tuesday’s market close, with analysts expecting revenue to decline roughly 5.6 percent year-over-year.

Yahoo was down roughly 1 percent, or 13 cents, at $15.96, in afternoon trading on Tuesday.

Yahoo spokeswoman Dana Lengkeek told Reuters in a email statement the latest cuts are part of the company’s strategy to position itself for net revenue growth and margin expansion, and that Yahoo will continue to hire to support key priorities. (Reporting by Alexei Oreskovic; editing by Andre Grenon)

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