Yahoo to announce more job cuts next week

Yahoo is expected to announce more job cuts when it would present its third-quarter earnings next week, officials said.

The Internet portal giant is likely to lay off at least as many employees as it did in January, when it sacked 1,000 workers, people familiar with the industry said Saturday. Yahoo currently has around 14,300 employees.

Leading online auction and shopping website eBay announced earlier this month to lay off 10 percent of its 16,000 workers, while search engine giant Google reportedly has been quietly trimming its contractor workforce.

Google has a total workforce of around 30,000 people, including around 10,000 contractors. However the company declined to disclose how many contractors it has let go.

Industry analysts said that the Internet companies, which typically have large overhead and staff numbers, are bracing themselves for a tough economic situation in fears of a global recession.