Report: Yahoo cuts costs, stops hiring — except for Valleywag editors

Despite local radio ads, sources tell Silicon Alley Insider Yahoo has frozen its hiring until July. Or it's freezing its hiring in July. One of the two. The point is that purse strings are tight at Yahoo. The news jibes with what we heard shortly after Yahoo reported its first quarter earnings in April, sources told us Yahoo was cutting back on travel expenses. Still, budgeted or no, sometimes Yahoo knows talent when it sees it and goes hard after it. How else to explain the email below?

Report: Yahoo cuts costs, stops hiring — except for Valleywag editors