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Dec. 14, 2010 / 12:16 PM

Yahoo! to cut up to 700 positions

A Yahoo logo is seen on the campus in Sunnyvale, California April 9, 2010. UPI/Mohammad Kheirkhah | License Photo

SAN FRANCISCO, Dec. 14 (UPI) -- U.S. search engine Yahoo! Inc. is laying off up to 700 employees due to sluggish company growth, a source told The Huffington Post.

Yahoo! has not made the announcement yet but is expected to notify employees Tuesday, The Huffington Post reported.

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Yahoo! has announced three major layoffs in the past three years. The latest cutback would trim company ranks of 14,100 employees by 5 percent.

Compared with rival Google, Yahoo! has experienced lethargic growth with revenue up less than 2 percent in the first three quarters of the year to $4.8 billion.

Revenue at Google over the same period has climbed 23 percent to close to $21 billion.

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