Yahoo is prepping for major cuts to its product staff, with managers asked to come up with 20% headcount reductions "as a planning exercise," reports Advertising Age.
It would mark the first major layoffs at Yahoo since April 2009, soon after Chief Executive Carol Bartz took over the company from co-founder Jerry Yang, the article notes. It adds that the cuts will come from the product group headed by Chief Product Officer Blake Irving, who joined from Microsoft in April.
It’s unclear how many jobs will be cut, though: "Yahoo is always evaluating expenses to align with the company’s financial goals. However, a 20% reduction in Yahoo’s workforce across the board is misleading and inaccurate," the company said in a statement.