Yahoo to cut over 1,000 jobs - reports

Internet search giant Yahoo is expected to announce today, as it reports its third quarter financial results, that it will cut 1,000 jobs.

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"Many of you have expressed your concern with the newest version of profiles, and believe me, we're reading and hearing your comments and are committed to helping you maximize your experience with the new profiles," wrote Melissa Daniels, a Yahoo community manager, in a blog post. "We also know lots of you worked hard on your old profiles and want your data."

She went on to note that Yahoo has saved a copy of the data contained in the old profiles, which can be retrieved by Yahoo customer service personnel. However, users cannot to revert to their old profiles, Daniels added.

Daniels also addressed user concerns that the changes don't allow them to have more than one alias, or user name. She pointed out that users can choose to merge multiple aliases into their main ID, which will allow users to search for that alias and full profile details.

The latest development at Yahoo come while the company is actively negotiating with the US Department of Justice to avoid an antitrust challenge to its proposed search advertising deal with Google.

The proposed Google -Yahoo partnership has been under fire from major advertiser groups since it was announced. The proposal prompted the DOJ to hire a high-profile litigator to determine whether the deal warranted an anti-trust investigation. An antitrust think tank called for an antitrust investigation, arguing that such a partnership could end up as a "black hole that swallows up Yahoo ," thus justifying an antitrust injunction.

Earlier this month, the chairman of the US Senate 's antitrust subcommittee publicly urged the DOJ to closely examine the proposed partnership , noting that it could lead to higher advertising prices and create unfair market conditions.

At the time, Sen. Herb Kohl (D-Wis.) said that many advertisers and competitors have expressed concern that the deal could let Google control a dominant share of the search advertising market. Under the deal, Yahoo would have less incentive to compete against Google, and could even opt to exit the market altogether, Kohl asserted.

Google has contended that a partnership with Yahoo would not cause huge online advertising cost increases and would not give it a monopolistic hold on the market. For its part, Yahoo late last month launched a digital advisory council to help it answer some of the questions that its advertisers have concerning the proposed deal.

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