Yahoo calls layoff rumors "inaccurate"

November 12, 2010 6:03:26 PM PST
Yahoo is calling media reports that it plans to lay off 20 percent of its workforce "misleading and inaccurate," yet the Sunnyvale-based company stopped short of denying it is planning any layoffs.

In a statement, Yahoo says the company is always evaluating expenses to align with its financial goals. Yahoo reported lackluster third-quarter earnings last month.

There have been reports that AOL and some private equity firms have been eyeing it as a takeover target.