According to the New York Times, in an effort to invest in its future, Yahoo will cut 1000 jobs, making it the largest internet layoff since the big dot-com bust. They did not specify which departments will be cut back.

Yahoo’s fourth quarter (2007) net income fell to $206 million, down from $269 million for the same period in 2006. After the announcement Tuesday, Yahoos stock fell by nearly 10 percent in after-hours trading.

Yahoo currently has approximately 14,300 employees. The job cuts are expected to take place by mid February of this year.