Yahoo appointed Carol Bartz as its new chief executive in January and her first major change is to cut 700 jobs or about 5% of their workforce.

The company has been losing market share and profit for the past 3 years and a few companies including Microsoft have made public intentions to purchase the business with negotiations always ending up in failure.

This new layoff announcement is the companies third in under 14 months and comes after a 2008 decision to layoff 10% or 15% of their staff.

At this time the company has been very unforthcoming as to if the layoffs will occur in higher salary workers in the USA or those in their massive offices in India and around the world.