LIVE: Yahoo Second-Quarter Earnings Just OK, Q2 Guidance Light; 5% Layoff Announced

Yahoo managed to hit earnings expectations on slightly lower-than-expected first-quarter revenues. It also announced it expects to lay off about 5% of its staff. Based on the 13,600 employees as of December, that’s nearly 700 people, more than recent rumors had anticipated. Yahoo had already laid off about 1,500 in December.

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