Wired PR News.com – What many have been anticipating since October is set to occur on Wednesday. As reported by Reuters, Yahoo will give 1,500 employees their pink slips on Wednesday, which will create a 10 percent deduction in their work force.
Yahoo initially made the announcement of the impending mass jobs cuts in October, however many remained skeptical as to whether they would actually occur. As noted in the report, the cuts will most greatly affect human resource and finance departments. Yahoo is also stated to have plans on hiring more individuals in locations such as Eastern Europe and India, which are deemed low cost markets.
Chief Executive Jerry Lang, who recently announced that he would be stepping down, will occupy his position until a replacement is found.
Many continue to speculate on how the changes will help the struggling Yahoo recover from the effects of weakening economy.