Yahoo said it plans to cut at least 10% of its workforce, or more than 1,500 employees, in the fourth quarter in an effort reduce costs.

Yahoo had 15,200 employees at the end of the third quarter. The much-anticipated round of layoffs comes on the heels of another 1,000 job cuts in late January.

"We have been disciplined about balancing investments with cost management all year, and have now set in motion initiatives to reduce costs and enhance productivity," said Yahoo co-founder and CEO Jerry Yang in a written statement.

In a conference call after the results were announced, Yang said the company was working to reduce costs in other ways than just slashing jobs, including relocating offices and consolidating real estate. "We are identifying ways we can operate more efficiently," he said.

Yahoo reported revenue of $1.79 billion in the quarter ended Sept. 30, an increase of 1% from the $1.77 billion in the same quarter one year ago.

By: DocMemory
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