Layoff Rumors Circle Yahoo!

Another executive leaves as new CEO plans deep cuts

The once chic and now shabby Internet destination, Sunnyvale-based Yahoo, Inc., is planning on cutting more staff according to a report in the New York Times that was confirmed by the Wall Street Journal.

The Times article suggests "several hundred" will be affected, with the Journal suggesting the number may be higher.

The company lost 2,400 employees in 2008 through layoffs and departures.

Shares of the company have declined the past two days amid news of the further layoffs.

Sales operations executive Dan Foehner got the hint, and will be starting at Facebook next week.

The cuts are the first since CEO Carol Bartz took over in January, replacing found Jerry Yang as chairman.

Yahoo is also looking to spin off some businesses, which would reduce the size of the company further.

Jackson West would have consulted his sources at Yahoo, but doesn't have any left.

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