Yahoo to Cut 1,000 Jobs, and Warns on Growth - New York Times

See the full article for more on Yahoo's focus areas

Yahoo also said that as part of its plan to revive its fortunes, it would cut 1,000 jobs by mid-February to reduce costs and narrow its focus to its most important businesses.

The company, however, said it planned to invest aggressively in some areas, like advertising technology and selected portions of its Internet portal, as it tries to capture a larger share of online ad dollars. Since some laid-off employees could apply for new jobs at Yahoo, the net effect on the work force, which recently grew to 14,300, was not clear.

Yahoo to Cut 1,000 Jobs, and Warns on Growth - New York Times