New York - Yahoo (NASD: YHOO) is expected to announce a cost-cutting plan this week that includes a round of layoffs, The Wall Street Journal reported, citing people familiar with the matter. The number of layoffs is expected to exceed the 1,000 positions Yahoo said in January would be eliminated.

Yahoo also recently hired consulting firm Bain & Co. to assess possible "structural changes" at the company.

The company's shares closed at $12.90 on Friday, considerably lower than the $31 a share acquisition offer from Microsoft (NASD: MSFT) that Yahoo turned down months ago.

Microsoft CEO Steve Ballmer recently said the company might still consider a search partnership with Yahoo, but said the two are not in discussions.

The Journal reported that Yahoo is still considering a combination with Time Warner's (NYSE: TWX) AOL.

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http://snipurl.com/4jh0d (Wall Street Journal)