Yahoo Might Lay Off 5 Percent of Its Workforce Today

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Yahoo Inc. is preparing to cut as many as 650 jobs — nearly 5 percent of its workforce — as early as today. It will mark Yahoo's fourth round of mass layoffs in the past three years, and the second under CEO Carol Bartz. And just before Christmas. Meanwhile, Google last month told its more than 23,000 employees they would receive a 10 percent pay raise come January. [AP, WSJ]