Yahoo is poised to lay-off hundreds of workers, according to reports published Tuesday, as the internet icon strives to sharpen its focus and boost its sagging stock.
The New York Times and The Wall Street Journal reported Yahoo's cost-cutting plans late Monday, citing people familiar with the matter.
The exact number of redundancies from Yahoo!'s staff of 14,000 is not known but is expected to be announced at the end of the month .
In recent years Yahoo! has struggled against Google, whose share of the internet search market is more than three times as big, and has also faced competition from social networking sites such as MySpace and Facebook, as well as other players in the online advertising market, including Microsoft.
The company did not specifically comment on staff cuts but said that it plans to invest in some areas, reduce emphasis in others,and eliminate some areas of the business that don't support the company's priorities, in a statement.