In an announcement, Virgin Mobile has confirmed that it will shed 10 % of its staff over the next year.

The recent buyout of Helio will become the cause to lay off 10 % of the strong workforce. According to the company, acquisition of Helio and the move to an IBM-contracted IT infrastructure was the factor behind that cull.

Most losses are expected to come in the New Jersey and California offices and it indicates that the company is ready for the worst worldwide in the fiscal year 2009.

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To restore the company’s fortunes in front of decreasing profits, Yahoo has announced to shed around 1,500 jobs that are 10% of its global workforce.

The company reported a 64% slump in third quarter profits. Yahoo announced 54.3million net profit in 3Q, while it was $151.3m in the same period last year.

Yahoo has rejected a buyout offer from Microsoft earlier this year.

These new results from Yahoo are worse than expected, as its revenues increased just 1% compared to $1.79bn (a year earlier).

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