"Although there is a lot of speculation concerning Yahoo office space, the lay-off has nothing to do with the sublease space available," a source tells GlobeSt. "Yahoo had already planned to move from its 310,000 sf Santa Clara building into its new office building."

Shares of Yahoo were unchanged Friday after gaining $1.10 (7%) on Thursday to close at $16.96. On Wednesday, the company announced a first quarter net loss and a 12% staff cut to reduce costs in a weaker business environment. Some 3,510 employees will lose their jobs.

Yahoo posted a net loss of $11.5 million, or 2 cents a share, for the first quarter, compared with a profit of $67.6 million, or 11 cents a share, in the year-ago period. The company is now forecasting second-quarter revenues of between $165 million and $185 million and beak-even earnings per share. Analysts' consensus revenue forecast was for $183.45 million and earnings per share of 2 cents.