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11/16/2001 Entry: "Yahoo to clip divisions, lay off 400 - Tech News - CNET.com"

Yahoo to clip divisions, lay off 400 - Tech News - CNET.com

Yahoo offered details of its long-awaited turnaround strategy Thursday, hinging its future on advertising, exclusive paid content and revenue-sharing deals with Internet access providers.

Yahoo executives gave some specifics regarding a long-expected corporate restructuring, saying that they will whittle down Yahoo's 44 business units to six: listings, commerce, communications, media, access and enterprise. In addition, the company will lay off 400 employees, or 13 percent of its work force. The layoffs were announced at Yahoo's third-quarter earnings call last month, but the exact number has not been made public until now.