The Week: City News - Yahoo! plans more job cuts

Yahoo! is planning to cut another 5 per cent of its global workforce to invest in more technology.

The move follows a 10 per cent reduction made by the internet company at the end of 2008, and many of the new cuts will come from its global engineering and product teams. In the first three months of the year, the company's revenue fell 13 per cent to £1.83 billion and post-tax profits fell 78 per cent to £81 million.

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