Yahoo are to lay off 1,430 employees on Wednesday of this week, as reported by the Dow Jones’ AllThingsD site. Yang has also noted that more jobs might be at risk in 2009, an anonymous source is said to claim another 500 positions may go.

Yahoo move to reduce its workforce by 10% is a direct result of the current economic situation. Let’s hope 2009 see an end to the financial downturn, is Yahoo at risk of closure and are Google slowly monopolizing the online search engine industry. Only time will tell.