Struggling Internet giant Yahoo Inc. is preparing to lay off several hundred employees, marking the first round of job cuts since Chief Executive Carol Bartz took the helm, according to newspaper reports late yesterday.

Yahoo plans another round of layoffs [CFP]

Sunnyvale, California-based Yahoo is trying to reverse three years of declining profits and has imposed other rounds of layoffs, including 1,500 workers in December. Yahoo has about 13,700 employees now.

Management had warned another purge could come, depending on the length and severity of the recession. The new cuts could be announced next Tuesday when Yahoo reports quarterly earnings, The New York Times and Wall Street Journal said, citing anonymous sources.

A Yahoo spokesperson didn't immediately return calls for comment.

(Shanghai Daily April 16, 2009)