Yahoo said to be planning more layoffs

Internet giant Yahoo Inc. is planning a new round of job cuts that could affect several hundred employees, according to a person with knowledge of the matter.

The reduction could be announced within a few weeks, according to the person, who declined to be identified. A spokesman for Yahoo declined to comment.

The cuts would be the first under Carol Bartz, who became chief executive in January. The last round, affecting about 1,600 workers, came at the end of 2008.

Yahoo, which is due to report first-quarter results next week, is cutting costs as it grapples with a sagging online advertising market. Last month, the Sunnyvale, Calif., company shut its bargain-travel site FareChase and online-storage service Briefcase. The firm this year said it would freeze salaries for many employees.

Bartz, who became CEO after co-founder Jerry Yang stepped down, announced a broad reorganization in February aimed at making Yahoo more nimble in a bid to revive growth and challenge search-engine leader Google Inc.