Yahoo! announces job cuts

Yahoo! has announced its financial results for the first quarter of 2009, with revenues falling 13 per cent since the end of March 2008.

Furthermore, marketing services revenues decreased by 12 per cent over the period, while fees saw a 20 per cent decline.

The search engine asserted that conditions which had played a factor in these declines were currency fluctuations, lower fee revenues from broadband partnerships and the sale of Kelkoo.

However, chief executive officer Carol Bartz had a positive outlook for the future, stating that Yahoo! remained "one of the most compelling" advertising buys on the internet.

Yahoo! is now set to take action by reducing its employee numbers by five per cent worldwide.

There has been a silver lining for the group, however, with Gomez and dotMobi recently revealing that Yahoo! had come out on top in its list of the best mobile search sites.

Search Engine Land reports that it is likely to be the former Yahoo! oneSearch that performed well, rather than the current Yahoo! Mobile as the report took months to compile.

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