The internet major Yahoo has witnessed a tremendous downfall in the recent times. To add to this already downward moving organization, Yahoo has further cut about 1500 employees as its income has fallen over 50 %.
The CEO and co-founder Jerry Yang has said that they are trying to cut down on costs after a thorough analysis of its workforce and its operational sites. He blames the slow down in the economy to the reason for decreased profits.
This is the second time this year that Yahoo has announced job-cuts. Last January they had cut about 1000 jobs.
Earlier Microsoft had announced plans to take over Yahoo but they had refused. And once again recently Microsoft CEO Steve Ballmer had expressed interests in the deal even then at a share price of $32. But Yahoo had rejected the offer stating that it was worth more.
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