RENEE MONTAGNE, host: NPR's business news starts with layoffs at Yahoo.</s>RENEE MONTAGNE, host: The Internet company says it plans to axe about a thousand jobs as early as next month. That's about 7 percent of Yahoo's workforce. The aim is to cut costs and focus on the company's most important business, online advertising. Ad revenues have been flagging and the company yesterday reported a 23 percent drop in quarterly profits.
A day after reporting a 23 percent drop in quarterly profits, Yahoo says it will cut about 1,000 jobs as early as next month. That's about 7 percent of the Internet portal's work,force. The aim is to cut costs and focus on the company's most important business: online advertising.