Yahoo To Lay Off 20% of Workforce? (YHOO)

Yahoo YHOO set to lay off 20% of staff according to Techcrunch.com. The rumor of the layoffs started circulating after the close of trading Wednesday November 11th. Apparently 2,500 could be affected by the layoffs near term as there are currently 14,100 people employed by yahoo around the globe. A company spokesperson for Yahoo stated "The company does not comment on rumor or speculation". Yahoo has denied this rumor. Though souces close to the firm cite declining revenue and market share as a possibly reason. Yahoo YHOO shares closed down 14c to 16.08 on average volume.